Senate Republicans are poised to approve a new version of the Trans Pacific Partnership trade deal Wednesday, a sign the GOP-led Congress will have a major say in the deal’s final text.
The Senate’s top Democrat, Chuck Schumer of New York, said he was optimistic about the agreement, which is expected to be voted on in the coming weeks.
The TPP is an ambitious, sweeping trade deal that aims to reduce the number of tariffs imposed by U.S. companies, create more access for U.N. trade negotiators and bring the world closer together in trade and investment agreements.
It’s a deal that will help millions of Americans and create tens of thousands of jobs.
But it faces significant obstacles ahead of its expected final vote, including how it would be implemented in the Senate.
For instance, there are two competing versions of the deal.
On the one hand, the House-passed bill would be sent to President Donald Trump for his signature, and then would be negotiated by the two chambers of Congress.
On the other, the Senate-passED bill would then be put to a vote in the chamber of commerce, and Senate Republicans could vote on it as an amendment.
“I’m hopeful that we will get the final version of TPP passed this week, and that the Senate will vote on the final text this Wednesday,” Schumer said.
“This is a huge win for working people, working families and the environment.”
On Wednesday, the GOP leadership of the House will hold a meeting with House Republicans, Senate Republicans and other House members to hash out a final version.
In the coming days, Trump will meet with other members of Congress and the White House for a closed-door session.