Trade Correspondent, Washington DC, USA
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May 20, 2015

Obama’s Asian trade push in doubt as Senate vote looms

WASHINGTON (Reuters) – President Barack Obama’s keynote Asian trade push risks failing in a Senate vote on Thursday, a result that would threaten the administration’s diplomatic pivot to Asia to counter China’s rising economic and political clout in the region.

Failure of “fast-track” legislation, which would grant Obama the power to speed the deal through Congress, would mark a huge blow for the president, who has made a deepening of ties with Asia one of his top foreign policy priorities.

May 20, 2015

Senators threaten to block trade debate over Ex-Im renewal

WASHINGTON (Reuters) – Legislation to fast track trade deals through Congress inched a step closer to a U.S. Senate vote on Tuesday but Democratic and Republican senators threatened to block debate until they are assured of a vote to keep the Export-Import Bank alive.

U.S. Senate Majority Leader Mitch McConnell, a Republican, took procedural steps aimed at bringing a debate on the trade bill, which is seen as key to securing a Pacific trade pact.

May 18, 2015

U.S. loses meat labeling case; trade war looms

WASHINGTON (Reuters) – Canada and Mexico are readying trade sanctions against the United States after they won a meat labeling dispute on Monday, increasing pressure on the U.S. Congress to scrap the laws.

The World Trade Organization upheld a complaint by Canada and Mexico about U.S. laws requiring retailers to label meat with the country where the animal was born, raised and slaughtered, saying they illegally discriminated against imported livestock.

May 18, 2015

U.S. loses WTO appeal in meat label dispute with Canada, Mexico

WASHINGTON, May 18 (Reuters) – The United States has lost a
battle with Canada and Mexico over its meat labeling rules, the
World Trade Organization said on Monday in a ruling that backed
calls to scrap the laws or risk costly trade retaliation.

The WTO panel said the United States must bring its
country-of-origin labeling (COOL) into line with global trade
laws, rejecting the nation’s appeal against an earlier ruling
that the requirements illegally discriminate against imported
livestock.

May 15, 2015

Trade supporters breathe easier as U.S. trade bill clears Senate hurdle

WASHINGTON (Reuters) – A 12-nation Pacific trade agreement cleared a crucial test in the U.S. Senate on Thursday, giving a resounding thumbs-up to legislation that holds the key to President Barack Obama’s diplomatic pivot to Asia.

Just two days after Democrats defied Obama to block debate on a bill to “fast-track” trade deals such as the Trans-Pacific Partnership (TPP) trade deal through Congress, the Senate voted 65 to 33 to move ahead with consideration of the measure.

May 14, 2015

U.S. Senate backs clampdown on currency cheats ahead of key trade vote

WASHINGTON, May 14 (Reuters) – U.S. senators on Thursday
backed tough new rules against currency manipulation ahead of an
important test vote that holds the key to completing a Pacific
Rim trade deal, the backbone of the Obama administration’s pivot
to Asia.

The Senate voted 78 to 20 to allow the United States to slap
import duties on goods from countries found to be artificially
lowering the value of their currencies to gain an export
advantage, despite objections from the White House that the
measure would breach international trade laws.

May 14, 2015

ECB’s Draghi says will not stop short in money printing

WASHINGTON, May 14 (Reuters) – The European Central Bank
will not stop short in rolling out its trillion-euro-plus money
printing scheme, its president said on Thursday, playing down
fears that quantitative easing could blow price bubbles.

Mario Draghi’s clear commitment, delivered in Washington to
an audience at the International Monetary Fund, shows there is
little prospect of paring back the fledgling programme that was
launched despite the reservations of euro zone paymaster
Germany.

May 14, 2015

U.S. Senate poised to breathe new life into Obama’s trade agenda

WASHINGTON (Reuters) – President Barack Obama’s trade agenda, which focuses squarely on developing stronger ties with Asia, gets a shot at new life on Thursday when the U.S. Senate is set to hold an important test vote on legislation to help him complete a Pacific Rim deal.

Just two days earlier, Obama’s own Democrats defied him and blocked consideration of the “fast-track” trade negotiating authority he needs to complete the Trans-Pacific Partnership (TPP) trade deal with 11 other Pacific Rim countries ranging from Chile to Malaysia.

May 13, 2015

Senate nears deal on trade vote after Democrat revolt against Obama

WASHINGTON (Reuters) – The U.S. Senate appears to be closing in on a deal to begin voting on a controversial trade deal a day after a Democrat rebellion appeared to hurt the chances of President Barack Obama winning swift authorization to complete a Pacific trade pact.

A compromise being brokered between Republicans and Democrats would set up a vote on fast track trade authority with a worker assistance provision, while two other trade bills sought by Democrats, on currency manipulation and African trade benefits, would be considered separately.

May 12, 2015

U.S. Senate Democrats gang up to delay fast-track trade bill

WASHINGTON, May 12 (Reuters) – U.S. Senate Democrats
delivered a major blow to President Barack Obama’s trade agenda
on Tuesday, blocking debate on a bill that would have smoothed
the path for a Pacific trade pact.

The stunning outcome cast doubt on legislation that is key
to the Obama administration’s ability to complete the 12-nation
Trans-Pacific Partnership, a central plank of its pivot to Asia.

    • About Krista

      "I write about trade from Washington DC, where I moved in August 2013. IN nine years with Reuters, I have written about the Latin American economy from Mexico City and European Central Bank from Frankfurt. In a previous life, I worked in Australia and covered the economy and national politics for local news agency AAP."
      Joined Reuters:
      2004
      Languages:
      English, German, Spanish, Portuguese
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