Obama administration officials and key lawmakers have conceded that there will be no congressional vote during this month’s “lame duck” session on legislation to implement the Trans-Pacific Partnership. With president-elect Donald Trump having repeatedly criticized TPP on the campaign trail, and with Republicans retaining control of both the House and Senate following last week’s elections, there appears to be no motivation for moving the 12-nation free trade agreement forward in the U.S.
Prospects for the Transatlantic Trade and Investment Partnership with the European Union are more uncertain. Unlike with TPP, the TTIP negotiations have not been concluded and no final agreement has yet been signed. Trump has asserted that he supports free trade that benefits U.S. workers, leaving open the possibility that TTIP could be negotiated in such a way as to meet his approval. However, EU Trade Commissioner Cecilia Malmstrom has said she expects that “for quite some time TTIP will probably be in the freezer.”
Sandler, Travis & Rosenberg will be conducting a webinar Nov. 17 to review the outcome of the elections and how the new administration and congressional leadership may affect U.S. trade policy. Click here for more information or to register.
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