A Senate hearing to discuss the Obama administration’s ambitious trade agenda has been postponed so the panel can consider a slew of expired tax provisions.
U.S. Trade Representative Michael FromanMichael FromanOvernight Finance: WH floats Mexican import tax | Exporters move to back GOP tax proposal | Dems rip Trump adviser's Goldman Sachs payout Froman heads to Council on Foreign Relations Overnight Finance: Carson, Warren battle at hearing | Rumored consumer bureau pick meets Trump | Trump takes credit for Amazon hirings | A big loss for Soros MORE was set to testify before the Senate Finance Committee on Thursday but the hearing has been rescheduled for April 30 so the panel can deal with a tax extenders bill instead, according to a Wednesday statement.
The White House’s trade agenda has moved to a back burner on Capitol Hill while Finance Chairman Ron WydenRon WydenWyden pushing to mandate 'basic cybersecurity' for Senate Consumer groups blast DHS head for seeking travelers' social media passwords Senate Dem at Tax March: 'We’re taking the gloves off' MORE (D-Ore.) hashes out details of a trade promotion authority bill.
After taking the gavel in February, Wyden said he would take his time in talking to Senate and House lawmakers about what they want to see in a bill that would allow Congress to fast-track any completed trade agreements.
Former panel Chairman Max BaucusMax BaucusChanging of the guard at DC’s top lobby firm GOP hasn’t reached out to centrist Dem senators Five reasons why Tillerson is likely to get through MORE, who left Congress to become the U.S. ambassador to China, introduced legislation in January with top panel Republican Orrin HatchOrrin HatchChaffetz's campaign arm registers 2028 websites The Hill's 12:30 Report Chaffetz won't run for reelection MORE (Utah) and Ways and Means Committee Chairman Dave Camp (R-Mich.), which received a chilly reception from many congressional Democrats.
Some Democrats have expressed concern about provisions that ensure in-depth congressional involvement in the process.
To that end, Froman and several other Obama Cabinet officials have canvassed Capitol Hill in recent months to discuss details of the two massive trade pacts in the works — the 12-nation Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership between the United States and the 28-nation European Union.
Hatch is among other Republican lawmakers who have called on President Obama and his top officials to press harder for the sale of trade promotion authority legislation and completion of broader trade agenda, which they argue will spur economic growth.
Obama will take a four-nation tour later this month around the Asia-Pacific where he will meet with top leaders including Japanese Prime Minister Shinzo Abe to discuss the TPP deal among other strategic issues.
Trade experts have said that any breakthroughs between the U.S. and Japan on a variety of market access issues will be crucial in propelling the TPP talks to completion sometime this year.
U.S. and Japanese officials have continued their talks, which are being held on a parallel track to the TPP discussions, about market access issues but haven’t made much progress over sticky agricultural and auto issues.