With opposition on the campaign trail from both major U.S. presidential candidates, supporters of the Trans-Pacific Partnership trade deal are worried that it could be the ‘end of the road’ for an opportunity to pass the 12-nation, tariff-slashing pact this year.
Some pundits on Capitol Hill say the current political climate regarding trade deals is the worst they’ve seen in decades – and trade supporters are left speculating what will happen next.
TPP was a topic last week during an informational forum at Dakotafest last week – featuring South Dakota’s congressional delegation.
Representative Kristi Noem told folks there are benefits to trade agreements that have been lost in the debate.
Senator John Thune said he’s hopeful something can be figured out on TPP “once the dust settles” after the elections.
With rhetoric about TPP on the campaign trail running high, Senator Mike Rounds tried to clear up some misconceptions about the deal – and explain how important it is to South Dakota agriculture.
President Obama signaled earlier this month he still intends to submit the TPP deal to Congress for a vote. The president often speaks of TPP as a tool to prevent China from writing the rules of trade in the future.
Earlier this summer, Senate Majority Leader Mitch McConnell all but ruled out the possibility of Congress voting on TPP this year, but he said the deal could still be modified and put to a vote in 2017 or beyond.