X
Edition:
United States

  • Business
    • Business Home
    • Legal
    • Deals
    • Aerospace & Defense
    • Finance
    • Autos
    • Reuters Summits
    • ADventures
    • Data Dive
  • Markets
    • Markets Home
    • U.S. Markets
    • European Markets
    • Asian Markets
    • Global Market Data
    • Indices
    • Stocks
    • Bonds
    • Currencies
    • Comm & Energy
    • Futures
    • Funds
    • Earnings
    • Dividends
  • World
    • World Home
    • U.S.
    • Special Reports
    • Reuters Investigates
    • Euro Zone
    • Middle East
    • China
    • Japan
    • Mexico
    • Brazil
    • Africa
    • Russia
    • India
  • Politics
    • Politics Home
    • Election 2016
    • Polling Explorer
    • Just In: Election 2016
    • What Voters Want
    • Supreme Court
  • Tech
    • Technology Home
    • Science
    • Top 100 Global Innovators
    • Environment
    • Innovation
  • Commentary
    • Commentary Home
    • Podcasts
  • Breakingviews
    • Breakingviews Home
    • Breakingviews Video
  • Money
    • Money Home
    • Retirement
    • Lipper Awards
    • Analyst Research
    • Stock Screener
    • Fund Screener
  • Life
    • Health
    • Sports
    • Arts
    • Entertainment
    • Oddly Enough
  • Pictures
    • Pictures Home
    • The Wider Image
    • Photographers
    • Focus 360
  • Video
McConnell dashes hopes for Pacific trade deal vote before Trump takes offi...
  • Africa
    América Latina
  • عربي
    Argentina
  • Brasil
    Canada
  • 中国
    Deutschland
  • España
    France
  • India
    Italia
  • 日本
    México
  • РОССИЯ
    United Kingdom
  • United States
Politics | Wed Nov 9, 2016 | 7:10pm EST

McConnell dashes hopes for Pacific trade deal vote before Trump takes office

Senate Majority Leader Mitch McConnell (R-KY) speaks about the election of Donald Trump in the U.S. presidential election in Washington, U.S., November 9, 2016. REUTERS/Joshua Roberts
Senate Majority Leader Mitch McConnell (R-KY) speaks about the election of Donald Trump in the U.S. presidential election in Washington, U.S., November 9, 2016. REUTERS/Joshua Roberts
By David Lawder | WASHINGTON

WASHINGTON U.S. Senate Majority Leader Mitch McConnell on Wednesday dashed any remaining hopes that President Barack Obama's signature Pacific-Rim trade deal would come up for a vote before President-elect Donald Trump takes office in January.

"It's certainly not going to be brought up this year," McConnell said of the 12-country Trans-Pacific Partnership (TPP) at a news briefing in Washington.

McConnell said any decisions on TPP or other future trade agreements would be up to Trump, who would still have the authority for four more years to negotiate "better deals" with expedited approval procedures in Congress.

Trump excoriated TPP on the campaign trail as a "disaster" and "a rape of our country," tapping into populist anger at globalization, trade and manufacturing job losses that helped propel his candidacy.

In an opinion piece published on Monday, Trump advisers Peter Navarro and Alexander Gray reiterated his opposition to major trade deals.

"Trump will never again sacrifice the U.S. economy on the altar of foreign policy by entering into bad trade deals like the North American Free Trade Agreement, allowing China into the World Trade Organization, and passing the proposed TPP," Navarro and Gray wrote in Foreign Policy magazine. "These deals only weaken our manufacturing base and ability to defend ourselves and our allies."

The Obama administration has been promoting TPP among lawmakers and industry groups in anticipation of a long-shot, post-election vote despite opposition to the deal by Trump and his Democratic opponent, Hillary Clinton.

While there are many Republican supporters of free trade and TPP in Congress, McConnell and House of Representatives Speaker Paul Ryan said on Wednesday they were now focused on laying the groundwork with Trump to pass Republican-focused healthcare and tax reform legislation next year.

A spokeswoman for Ryan said he had not had a change of heart since he said on a radio talk show in October that the House would not bring TPP up for a vote because of problems with several provisions and insufficient support in the House.

McConnell said his priorities for the post-election "lame-duck" session were passing a government funding extension and medical innovation legislation.

White House spokesman Josh Earnest was still trying to sell the TPP agreement in a news briefing on Wednesday.

"President Obama does continue to believe that this is the best opportunity that the Congress has to take advantage of the benefits of a Trans-Pacific Partnership agreement that cuts taxes, 18,000 taxes, that other countries impose on American products," Earnest told reporters. "We’ve got a strong case to make."

But the strong vote for Trump in industrial states made it unlikely Republicans would be willing to go against him on trade policy, analysts said.

"It's fair to say that TPP is now in the dustbin of history," said Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics, a pro-trade think tank in Washington. "I don't see a path forward for the United States to join."

(Reporting by David Lawder; Editing by Leslie Adler and Peter Cooney)

Next In Politics

Trump win opens way for China to take climate leadership role

WASHINGTON/BEIJING The election of climate change skeptic Donald Trump as president is likely to end the U.S. leadership role in the international fight against global warming and may lead to the emergence of a new and unlikely champion: China.

U.S. consumer financial agency could be defanged under Trump

WASHINGTON The U.S. Consumer Financial Protection Bureau, already in legal limbo after an October court decision, could find its powers scaled back by President-elect Donald Trump and a Republican-led Congress, according to members of both political parties, lobbyists and lawyers.

Mayors of NY and Los Angeles pledge to remain immigrant sanctuaries

LOS ANGELES/NEW YORK Officials in New York and Los Angeles on Thursday said they hoped President-elect Donald Trump would not follow through on a campaign promise to withhold federal funds from "sanctuary cities" that shield people who are in the country illegally.

MORE FROM REUTERS

Sponsored Content

From Around the Web Promoted by Taboola

Trending Stories

    FOCUS 360

    Video: Clinton's somber election night rally

    Sponsored Topics

    X
    Follow Reuters:
    • Follow Us On Twitter
    • Follow Us On Facebook
    • Follow Us On RSS
    • Follow Us On Instagram
    • Follow Us On YouTube
    • Follow Us On LinkedIn
    Subscribe: Feeds | Newsletters | Podcasts | Apps
    Reuters News Agency | Brand Attribution Guidelines

    Reuters is the news and media division of Thomson Reuters. Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Learn more about Thomson Reuters products:

    Eikon
    Information, analytics and exclusive news on financial markets - delivered in an intuitive desktop and mobile interface
    Elektron
    Everything you need to empower your workflow and enhance your enterprise data management
    World-Check
    Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks
    Westlaw
    Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology
    ONESOURCE
    The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs
    CHECKPOINT
    The industry leader for online information for tax, accounting and finance professionals

    All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.

    • Site Feedback
    • Corrections
    • Advertise With Us
    • Advertising Guidelines
    • AdChoices
    • Terms of Use
    • Privacy Policy