Obama wins big victory for his trade agenda in SenateMay 23, 2015 - 09:03 AMT PanARMENIAN.Net - President Obama won a big victory for his trade agenda Friday, May 22, with the Senate’s approval of fast-track legislation that could make it easier for him to complete a wide-ranging trade deal that would include 11 Pacific Rim nations, the Washington Post reports. A coalition of 48 Senate Republicans and 14 Democrats voted for Trade Promotion Authority late Friday, sending the legislation to a difficult fight in the House, where it faces more entrenched opposition from Democrats. The Senate coalition fought off several attempts by opponents to undermine the legislation, defeating amendments that were politically popular but potentially poisonous to Obama’s bid to secure the trade deal. “This is an important bill, likely the most important bill we will pass this year,” Sen. Orrin G. Hatch (R-Utah), chairman of the Senate Finance Committee and primary author of the bill, said at the close of debate. TPA’s fast-track provisions would allow Congress, under strict timelines, to consider trade deals with a simple up-or-down vote without any amendments or requirements of a Senate super-majority to end debate. That would help Obama complete the final details of the Trans-Pacific Partnership (TPP), with the other 11 nations, a bloc that represents about 40 percent of the global economy. If TPA clears Congress, Obama’s negotiators will push to conclude the Pacific trade pact and then send it to Congress for final approval, possibly later this year or early next year. The legislative package also includes new funding for labor training for workers that are certified for having lost their jobs because of foreign competition. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |