WASHINGTON (Reuters) – The U.S. Treasury on Tuesday warned lawmakers against insisting on sanctions against currency cheating in trade deals and said Pacific trading partners made clear they oppose such rules.
Senators plan to push for tough rules to stop trading partners deliberately weakening their currencies when amendments are considered on Wednesday to a bill to streamline the passage of trade deals through Congress.
(Reuters) – U.S. senators said on Tuesday they plan to push
for stronger rules against currency manipulation in legislation
that is key to reaching a major Pacific trade pact.
During a Senate Committee on Finance hearing on legislation
to streamline the passage of trade deals through Congress,
several Democratic senators raised concerns about trading
partners devaluing currencies to make their exports cheaper.
WASHINGTON (Reuters) – Canada must make a meaningful offer to open its markets under a Pacific trade pact now that the United States is moving ahead with a key piece of trade legislation, New Zealand Trade Minister Tim Groser said on Friday.
Groser hailed the introduction of fast-track legislation in the U.S. Congress on Thursday and countries can now clear up remaining sticking points in the 12-nation Trans-Pacific Partnership (TPP).
WASHINGTON (Reuters) – Senior U.S. lawmakers reached agreement on Thursday on the wording of a bill aimed at giving the White House “fast track” authority to negotiate a Pacific trade pact that is central to President Barack Obama’s strategic shift toward Asia.
The agreement, over six months in the making, sets the stage for a bruising legislative battle over Obama’s proposed Trans-Pacific Partnership (TPP) and similar trade deals, with many Democrats opposed to the legislation along with a small but vocal contingent of Republicans.
WASHINGTON (Reuters) – U.S. senators said on Thursday they could present a bipartisan bill to move trade deals quickly through Congress as soon as later in the day after reaching agreement on aid for workers hurt by trade.
Republican Senate Finance Committee Chairman Orrin Hatch, a Republican, said the legislation, key to closing a 12-nation Pacific trade pact, could be unveiled in the early afternoon.
WASHINGTON (Reuters) – U.S. lawmakers are close to finalising details of a bill to speed trade deals through Congress, a move that would seal a sweeping Pacific trade pact that has been more than five years in the making and is a key part of the Obama administration’s pivot to Asia.
U.S. Senate Finance Committee Chairman Orrin Hatch said on Wednesday he was working with the panel’s top Democrat, Ron Wyden, to get a deal.
WASHINGTON (Reuters) – U.S. Senate Finance Committee Chairman Orrin Hatch said on Wednesday he hopes to reach an agreement by the end of the day on a bipartisan bill to speed trade deals through Congress.
The so-called fast track legislation, key to sealing a 12-nation Pacific trade pact that is part of President Barack Obama’s diplomatic pivot to Asia, has been bogged down in negotiations between Democrats and Republicans.
WASHINGTON (Reuters) – The World Trade Organization found on Tuesday that U.S. rules on dolphin-safe labels for canned tuna run counter to international trade laws, siding with Mexico in a long-running dispute and opening the door to retaliation against U.S. exports.
The ruling, which the United States said it would appeal, upholds Mexico’s complaint that revamped U.S. labeling rules are still discriminatory because they disqualify Mexican tuna from bearing dolphin-safe labels, unlike other countries’ tuna.
, April 14 (Reuters) – It is crunch
time for President Barack Obama’s push to finalize an ambitious
Pacific free trade pact and anyone wondering why it is such a
tough sell may want to talk to the people of Oregon.
This West Coast state of 4 million people, which hosts major
operations of global giants Nike Inc and Intel Corp
, exemplifies the nation’s ambiguity about free trade
and shows the battle lines between its advocates and critics.
WASHINGTON (Reuters) – Business associations from the United States, Japan and Europe told Chinese officials on Monday they still have “strong concerns” about bank information technology rules and urged Beijing to formally suspend them.
The joint letter, from 31 trade associations, increases pressure over rules pushing China’s state-owned banks to buy technology from domestic vendors, which the U.S. trade office has said could breach China’s international trade commitments.