TPP Developments – Prospects for Congressional Action Dim. The hostile political environment toward trade continues to dim the prospects that Congress would likely move this year on a bill to implement the Trans-Pacific Partnership (TPP). Both leading presidential candidates – Mr. Trump and Secretary Clinton – have stated their opposition to the TPP deal. Secretary Clinton said last week that she is opposed to a TPP vote in the lame-duck session of Congress later this year.
TTIP Developments. Early last week, Greenpeace Netherlands leaked draft Transatlantic Trade & Investment Partnership (TTIP) negotiating documents, available here, revealing the U.S. negotiating stances on many chapters, including state-owned enterprises and agriculture. From Geneva, Switzerland, last Monday, Secretary of State John Kerry expressed confidence in the progress of the negotiations with the European Union, saying enough progress had been made in the recent TTIP round of negotiations in New York City that “final documents” could start to be assembled next month.
U.S., China to Hold Steel Dialogue. U.S. and Chinese officials will reportedly meet this week to discuss steel overcapacity in Washington. Their discussion is part of a 2015 pledge to intensify bilateral dialogue and will reportedly focus on China’s progress implementing a 2014 commitment to “establish mechanisms that strictly prevent the expansion of crude steelmaking capacity and that are designed to achieve, over the next five years, major progress in addressing excess production capacity in the steel sector.”