Following the defeat of the the trade promotion package in the House on June 12th there was a question as to whether Congress would move forward with granting President Obama the authority to finalize trade deals without accepting amendments from Congress first. Many felt the loss of Trade Promotion Authority (TPA) could threaten the President's ability to enter final negotiations on the Trans Pacific Partnership (TPP), a 12 nation trade agreement that would greatly open Asian markets for companies in the United States.
After the trade package was submarined by House Democrats voting against the Trade Adjustment Assistance (TAA) bill, Republicans leaders quickly resuscitated the trade package by separating the two bills and sending the TPA bill, which narrowly passed the House, to the Senate as a stand-alone measure for final approval. On the afternoon of June 24th the Senate passed TPA by a margin of 60-38. The measure will grant the Presidency 6 years of fast-track approval for trade agreements. Final passage of TPA is a major coup for President Obama and is an example of possible positive outcomes from working across the aisle on agenda items.
President Obama signed both the TPA and the Trade Adjustment Assistance (TAA) into law on June 29th, and allowing the Administration the ability to continue towards finalizing TPP.