Markets

A TPP without the US? It's being suggested

A TPP without the US? It's being suggested

Administration officials also said Obama will try to explain the situation to leaders of the 11 other countries in the Trans-Pacific Partnership pact next week at the Asia-Pacific Economic Cooperation summit in Peru.

The USTR statement follows a Twitter message on Friday from Jared Bernstein, a former economic adviser to Vice President Joe Biden, that the administration was giving up on a lame-duck TPP vote.

"We have worked closely with Congress to resolve outstanding issues and are ready to move forward, but this is a legislative process and it's up to congressional leaders as to whether and when this moves forward", said Matt McAlvanah, a spokesman for the Office of the USA trade representative, in an email to The Hill.

Trump and Democrat Hillary Clinton each opposed the agreement during their campaigns, endangering the already slim chances that Congress would cobble together enough support to pass the historic agreement before the end of Obama's presidency.

US House Speaker Paul Ryan had earlier said he would not proceed with a lame-duck vote.

The TPP deal was reached in the United States city of Atlanta more than a year ago following years of bitter negotiation.

China passes far-reaching Internet security law
But Internet control has reached new heights since President Xi Jinping assumed power in March 2013. A Human Rights Watch (HRW) spokeswoman on Monday condemned the catch-all nature of the measures.


President Barack Obama reportedly hoped have the deal approved by Congress before he turns over the White House to Trump.

The deal, created to regulate trade between Australia, the U.S., New Zealand, Canada, Singapore, Vietnam, Malaysia, Japan, Mexico, Peru, Brunei and Chile, was once hailed as the most progressive trade deal in history.

"We've got a strong case to make with regard to the Trans-Pacific Partnership, and we're going to encourage Republican leaders to take it up and pass it because of the enormous benefits that would accrue to American workers, American businesses, and the broader USA economy", he added.

The TPP involves Australia, the United States, and 10 other countries throughout the Asia-Pacific region and South America.

Obama's trade office said it was now up to lawmakers to advance the process. Trump's aides had also told the Obama administration to stand down on going forward with foreign policies after the election.

"But we continue to think that these types of deals make sense, simply because countries like China are not going to stop working on regional agreements". Observers say participants may debate a possible change in the trade deal's framework to exclude the U.S.


  • Michael Keaton to play villain in upcoming Spider-man reboot

    Spider-Man: Homecoming will be the first time we get to see Marvel and Sony work together on a Spider-Man movie. In my everyday life I'm not a big fan of contract law, but damn if the Marvel movies don't make it exciting.
    Putin grants Russian citizenship to actor Steven Seagal

    Putin grants Russian citizenship to actor Steven Seagal

    Seagal also offered to set up a martial arts school in Belgrade, after which he was given Serbian citizenship earlier this year. Seagal automatically became a Russian citizen as soon as the decree was published, and he doesn't have to officially accept it.
    Past Quarters Surprise Report for Hewlett Packard Enterprise Company (NYSE:HPE)

    Past Quarters Surprise Report for Hewlett Packard Enterprise Company (NYSE:HPE)

    Wells Fargo & Co. reaffirmed a buy rating on shares of Hewlett Packard Enterprise in a research note on Monday, July 11th. The current PEG for Hewlett Packard Enterprise Company NYSE: HPE is valued at 5.29 with a P/S value of 0.74.
  • Clinton, Trump hope to win Hispanic, black votes

    Clinton, Trump hope to win Hispanic, black votes

    Although they make up 38 percent of the state's population, Latinos account for only 10 percent of its mayors and county judges. Latino turnout could be the difference maker for Clinton in swing states like Nevada, North Carolina and Florida .
    Female student killed, another injured in stabbing at Abbotsford high school

    Female student killed, another injured in stabbing at Abbotsford high school

    We do not believe the suspect has ties to this school, or to the two girls, or specifically to the Abbotsford area. Ann's Parish toward the school carrying a bouquet of flowers. "It ruptures our sense of security".
    Rockefeller Center Christmas Tree coming from Oneonta

    Rockefeller Center Christmas Tree coming from Oneonta

    The 2016 Christmas tree displayed at Rockefeller Center will be coming from Oneonta, Rockefeller Center announced Monday. The tree is a Norway Spruce, as most previous Rockefeller trees have been, according to NBC New York .
  • Mystery of why seabirds eat plastic is revealed

    Mystery of why seabirds eat plastic is revealed

    The scent elicits a feeding response from seabirds , especially species that heavily rely on their sense of smell to find food. Those species that have evolved to use DMS as a sign of food can be tricked by marine plastic debris that also emits DMS.

    Erik Sviatchenko: Rangers have not narrowed gap to Celtic

    Early intervention will be key in tackling troublemakers at this weekend's Scottish League Cup semi-finals, police have said. We will regroup and we will recover and be ready to go on Sunday. "The aim is to work hard and continue that progress".
    Mom texted video of dead toddler during fight with dad, police say

    Mom texted video of dead toddler during fight with dad, police say

    He was transported to a nearby hospital and was pronounced dead at 11:40 p.m. on Tuesday night; daughter Angel is alive and well. The first officers arrived at the Hi View Gardens housing complex about 15 minutes after the final text message.
  • Trump assures Seoul of continued United States support over Pyongyang threat

    Kim's visit comes a matter of days after the news agency reported he inspected a special operations military unit. Moon Jae-in said in his message Trump's win shows the "desire of the American people for change in the future".
    Poppy row: Royal British Legion urges Federation Internationale de Football Association  to rethink ban

    Poppy row: Royal British Legion urges Federation Internationale de Football Association to rethink ban

    Others agree with Fifa's decision, saying the poppy no longer represents remembrance in the way it was intended. In Northern Ireland and the Republic of Ireland, the poppy is regarded by some as a political symbol.
    Southampton boss Claude Puel unaware of takeover talks

    Southampton boss Claude Puel unaware of takeover talks

    We can't think about what's happened. "We will see this with the chairman and he is a good man to answer this subject". While there have been two wins by the home team, four matches have resulted in a draw.