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News & Press: WIPP Legislative Updates

Fate of Major Trade Deals May Hinge on Procedural Bill

Monday, April 20, 2015  
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Policy Briefing Week of April 13

 

Fate of Major Trade Deals May Hinge on Procedural Bill

International markets, exporters, and would-be exporters are closely watching the future of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (S. 995). With it may go the future of two trade deals, considered to be the most ambitious in history.

The bill, introduced last week, grants Trade Promotion Authority (TPA) to the Obama Administration, a critical tool designed to escort trade deals through Congress. Experts agree that without it trade deals stand little chance to navigate partisan -- and even regionally divisive -- agendas in the House and Senate. Instead, with TPA, trade deals get a straightforward yes-or-no vote in the Congress.

The legislation is timely. The Trans-Pacific Partnership (TPP), a five year, twelve country deal, is nearly finalized. Negotiations with the European Union in the Transatlantic Trade and Investment Partnership (T-TIP) are well underway. Both agreements hope to increase U.S. exports by lowering barriers to trade and enhance global competitiveness standards through robust labor and intellectual property provisions. 

Given the enormous potential for women entrepreneurs outside the United States, WIPP closely follows trade and export policy. WIPP also launched ExportNOW, to educate women business owners on exporting.

 

 


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