Obama wins big victory for his trade agenda in SenateMay 23, 2015 - 09:03 AMT PanARMENIAN.Net - President Obama won a big victory for his trade agenda Friday, May 22, with the Senate’s approval of fast-track legislation that could make it easier for him to complete a wide-ranging trade deal that would include 11 Pacific Rim nations, the Washington Post reports. A coalition of 48 Senate Republicans and 14 Democrats voted for Trade Promotion Authority late Friday, sending the legislation to a difficult fight in the House, where it faces more entrenched opposition from Democrats. The Senate coalition fought off several attempts by opponents to undermine the legislation, defeating amendments that were politically popular but potentially poisonous to Obama’s bid to secure the trade deal. “This is an important bill, likely the most important bill we will pass this year,” Sen. Orrin G. Hatch (R-Utah), chairman of the Senate Finance Committee and primary author of the bill, said at the close of debate. TPA’s fast-track provisions would allow Congress, under strict timelines, to consider trade deals with a simple up-or-down vote without any amendments or requirements of a Senate super-majority to end debate. That would help Obama complete the final details of the Trans-Pacific Partnership (TPP), with the other 11 nations, a bloc that represents about 40 percent of the global economy. If TPA clears Congress, Obama’s negotiators will push to conclude the Pacific trade pact and then send it to Congress for final approval, possibly later this year or early next year. The legislative package also includes new funding for labor training for workers that are certified for having lost their jobs because of foreign competition. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |