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“It is important that we give the new president a chance put his team in place and consider his trade agenda. We will be able to work with America on trade.”
The prime minister still hopes for a revised deal with the Trump administration.
In the Diet, a lower house panel acted “without the participation of the Democratic Party's lawmakers who walked out ahead of the vote.”
The foreign affairs, defense and trade select committee reported the bill back to parliament “against the wishes of Labour and the Greens.”
The Australian Chamber of Commerce and Industry, in its submission to an Australian Senate committee tasked with reviewing the Trans-Pacific Partnership, expressed concern that the United States would demand that Australia take on additional commitments on biologic drugs before the agreement can enter into force for the country – citing precedent in the certification process of the two countries' bilateral free trade agreement.
Ambassadors from Trans-Pacific Partnership countries this week pledged to accelerate their efforts to ensure the agreement is passed during a lame-duck session of Congress and reiterated the importance of the United States to the global trading system and its TPP partners.
New Zealand's ambassador to the U.S. said Tuesday that the Trans-Pacific Partnership has a chance to pass Congress in a lame-duck session despite congressional leaders' insistence that the votes aren't there, reiterating his stance that a successful TPP vote will depend largely on support from House Republicans.
“If Trump wins it won't get through. If Clinton wins narrowly, it'll be quite difficult.”
As Congress heads into a recess that will last until after the Nov. 8 elections, the Trans-Pacific Partnership’s ultimate fate in a lame-duck session remains unclear with Republican leadership this week saying it will not be considered in either chamber while some sources suggest the Obama administration has created the conditions for a vote to occur later this year.
“If you don’t think TPP matters, then you either don’t really believe in trade, or you think the WTO can resolve your issues.”
“All Australian government and business leaders have been unanimous in urging the American Congress to ratify this treaty.”
New Zealand's ambassador to the U.S., Tim Groser, late last week said the other 11 Trans-Pacific Partnership countries are building momentum to ratify the deal before the U.S. Congress begins its lame-duck period -- citing “good discussions” with the U.S. Trade Representative and Mexican government officials last week and progress in New Zealand's domestic ratification process.
Senate Finance Committee Chairman Orrin Hatch (R-UT) this week said the Obama administration has promised to satisfy his demand of including 12 years of market exclusivity for biologics in the implementing bill for the Trans-Pacific Partnership, but noted that he is waiting to receive that pledge in writing.