May 16, 2016 | By: ADAM BEHSUDI
ITC REPORT WON’T UNSTICK TPP JUST YET: The U.S. International Trade Commission is set to release its long-awaited estimate of the economic effect of the Trans-Pacific Partnership this week, likely with mildly positive findings, but the report won’t quite provide the impetus for congressional action on the deal that the administration had hoped.
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The May 18 release of the congressionally mandated report could have kicked off a window between now and the July recess for hearings or even markups of the TPP implementing bill, but the continued criticisms of the trade deal on the presidential campaign trail and in Congress have made the deal is too politically toxic to take up.
“We know there are benefits associated with this trade agreement,” House Ways and Means Trade Subcommittee Chairman Dave Reichert told POLITICO. “We know how critical this agreement is. But we also know we have issues that we have to resolve before it moves forward.”
However, if the ITC report is upbeat on the overall effect of the deal, as he expects it to be, “certainly we’re going to use that to promote TPP,” Reichert said.
Indeed, staunch TPP opponent Rep. Rosa DeLauro noted that it’s “a report people look to” and acknowledged the findings will help set the debate on the overall economic benefits and on which sectors will win and lose. Pros should look for the full story later today.
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