Vice President Joe Biden said last week the chances for Congress to approve the Trans-Pacific Partnership (TPP) trade deal were slim. Biden said he sees a “less than even chance” that the U.S. Congress approves the 12-country trade pact before the next administration takes office in January, according to Fortune Magazine.
Biden made the remarks while speaking to the Council on Foreign Relations in New York. He said the brief lame-duck session is “our only real shot” for approving TPP.
The trade deal is the final cornerstone of the Obama administration as the President is pressing Congress to approve the agreement. However, with both presidential candidates speaking out against the trade deal, Congress has been reluctant to consider TPP.
Leadership of the House and Senate say there will not be a vote on TPP this year, and that there may not be enough votes in the House to approve the trade deal. Other countries are holding out on approval, pending action by the United States.
(From the National Association of Farm Broadcasters News Service)