US trade deals with Europe and Asia suffer blow after Senate vote

  • In a setback for the Obama administration, the US Senate has rejected a bill that would give the president the powers to fast-track trade deals.

    With the Senate voting 52-45 — short of the 60 votes required to pass the bill — key trade deals with Asia and Europe such as the Transatlantic Trade and Investment Partnership (TTIP) and Trans-Pacific Partnership (TTP) can no longer be fast-tracked by the US.

    The opposition to the bill was led by Democrats, who were unhappy at being unable to properly debate certain trade measures.

    Tagged as: Obama administration, US Senate, fast-track, Democrats, trade measures, TTP, TTIP, US trade, business news