'Fast-track' trade bill could advance soon: Sen. Hatch

Published 04/13/2015, 04:02 PM
Updated 04/13/2015, 04:11 PM
'Fast-track' trade bill could advance soon: Sen. Hatch

WASHINGTON (Reuters) - Controversial legislation giving President Barack Obama authority to negotiate free-trade deals with other countries under special rules could begin moving through the U.S. Congress in coming weeks, Republican Senator Orrin Hatch said on Monday.

Hatch, who chairs the Senate Finance Committee that oversees trade, told reporters he was continuing to negotiate with the committee's senior Democrat, Senator Ron Wyden, on a bipartisan "fast-track" trade bill that could be considered soon.

Fast-track legislation, which would restrict Congress to yes or no votes on trade deals, is seen as key to sealing a 12-nation Pacific trade pact.

The legislation under discussion would allow Congress to set negotiating objectives, but it faces opposition from lawmakers worried about trade's impact on U.S. jobs.

"He's (Wyden) working with us and we should know pretty soon" whether an agreement can be stuck, Hatch said, adding that the Senate Finance Committee hearing would hold a hearing on the topic this month.

Hatch said that a week after the hearing, which has yet to be formally scheduled, the committee would aim to debate amendments to the bill and try to send it to the full Senate for consideration.

While Hatch, a Republican, would not guarantee that Wyden would sign on to whatever bill was presented, he said: "I believe we'll be together in the end."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.