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Friday, 06 November 2015 12:30

Obama Administration intends to sign Trans-Pacific Partnership

Senate Finance Committee Chairman Orrin Hatch on November 05 issued the following statement after the Obama administration notified Congress of its intent to sign the Trans-Pacific Partnership (TPP).  The announcement comes after the administration released the final text of the agreement, Caspian Energy News (www.caspianenergy.net) reports with reference to the press service of the U.S. Senate Committee on Finance.

“That the administration intends to sign the trade agreement does not mean its duty is over to convince Congress that this TPP is the best agreement possible. Only Congress can enact the trade agreement, and for that to happen, the agreement must meet the requirements laid out in bipartisan Trade Promotion Authority (TPA). Transparency and accountability are key objectives of TPA. Now that the text is public, as was required by TPA, the administration should expect the agreement to undergo rigorous review.  Under TPA, the President cannot sign the agreement for at least 90 days from the time he notifies Congress of his intent to enter into the agreement. This review process enables Congress to carefully scrutinize the agreement before it is signed, and if necessary, recommend changes to the agreement. I look forward to working with my Senate colleagues and stakeholders throughout this process to determine whether this TPP agreement meets the high-standards set by TPA and whether it should be enacted into law.”

A longtime advocate of breaking down trade barriers, Hatch has championed efforts to enhance America’s global competitiveness and increase access for American farmers, workers and job-creators in international markets. Hatch co-authored legislation to renew Trade Promotion Authority (TPA) which was signed into law in June.

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