Senate panel approves trade bill

Senate panel approves trade bill
The Senate Finance Committee on Wednesday approved a bill that would streamline passage of global trade deals through Congress. 
 
The panel approved, on a 20-6 vote, a long-awaited trade promotion authority (TPA) measure with the support of seven Democrats, sending the measure to the Senate floor, where it will face another tough test in the coming weeks. 
 
The Democrats who voted to approve were Sens. Ron WydenRonald (Ron) Lee WydenOvernight Defense: House passes T spending package with defense funds | Senate set to vote on blocking Saudi arms sales | UN nominee defends climate change record Grassley announces opposition to key Trump proposal to lower drug prices Exclusive: Trump administration delayed releasing documents related to Yellowstone superintendent's firing MORE (Ore.), Maria CantwellMaria Elaine CantwellHillicon Valley: Democratic state AGs sue to block T-Mobile-Sprint merger | House kicks off tech antitrust probe | Maine law shakes up privacy debate | Senators ask McConnell to bring net neutrality to a vote Senators call on McConnell to bring net neutrality rules to a vote Maine shakes up debate with tough internet privacy law MORE (Wash.), Ben CardinBenjamin (Ben) Louis CardinProposed bipartisan kidney legislation takes on kidney disease epidemic in America Lawmakers raise security concerns about China building NYC subway cars House votes to boost retirement savings MORE (Md.), Bill NelsonClarence (Bill) William NelsonDemocrats target Florida Hispanics in 2020 Poll: Six Democrats lead Trump in Florida match-ups How Jim Bridenstine recruited an old enemy to advise NASA MORE (Fla.), Tom CarperThomas (Tom) Richard CarperThe '90-10 rule' in higher education is a target on veterans' backs Trump proposal nixes review of long-term climate impacts Democrats want White House hopefuls to cool it on Biden attacks MORE (Del.), Mark WarnerMark Robert WarnerBipartisan senators to introduce bill forcing online platforms to disclose value of user data GOP senators divided over approach to election security Hillicon Valley: House lawmakers reach deal on robocall bill | Laid-off journalists launch ads targeting tech giants | Apple seeks tariff exemptions | Facebook's Libra invites scrutiny MORE (Va.) and Michael BennetMichael Farrand BennetInslee unveils plan to fight fossil fuel pollution The Hill's Morning Report - Crunch time arrives for 2020 Dems with debates on deck 2020 primary debate guide: Everything you need to know ahead of the first Democratic showdown MORE (Colo.).
 
 
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Five Democrats — Cantwell, Nelson, Carper, Bennet and Warner — and 10 Republicans opposed the amendment.
 
Portman, a former U.S. trade representative, said the amendment was needed because the “playing field is tilted against us” and it would “allow our workers to compete.”
 
Stabenow argued the Obama administration’s process is “just not enough” to convince countries to make faster progress toward market-driven exchange rates.  
 
After markup, Portman said he will make another attempt at passing the rule in floor debate.
 
The White House has argued that requiring the addition of currency provisions would derail negotiations on the Trans-Pacific Partnership (TPP) and likely jeopardize its passage in Congress. 
 
A Treasury official told the panel the department is “very concerned” adding currency rules to a fast-track measure would be counterproductive and possibly disrupt continuing negotiations. 
 
“We have serious concerns about the inclusion of enforceable currency provisions in this or any trade agreement,” Treasury Secretary Jack LewJacob (Jack) Joseph LewHogan urges Mnuchin to reconsider delay of Harriet Tubman bill Mnuchin says new Harriet Tubman bill delayed until 2028 Overnight Finance: US reaches deal with ZTE | Lawmakers look to block it | Trump blasts Macron, Trudeau ahead of G-7 | Mexico files WTO complaint MORE told the House Ways and Means Committee on Wednesday afternoon.
 
Lew has repeatedly asked Congress to tread lightly in pushing for provisions that could, in the end, do more to hurt U.S. workers than help.
 
“Enforceable currency disciplines would impair our already-successful efforts addressing currency practices through our bilateral and multilateral engagement and could grant other countries a legal basis to interfere with the flexibility of U.S. policymakers to take the steps necessary to protect jobs, support growth, and ensure continued price stability in the United States,” Lew said.  
 
In a letter to senators Tuesday, Lew said other trading partners “have made clear that they will not support the introduction of enforceable currency provisions in the context of trade agreements, and specifically, the TPP.”
 
 
“We’ve come a long way, and while I know the sincerity behind it, I think it makes it very difficult to carry this bill through,” Hatch said.
 
Wyden, the Senate Finance Committee ranking member, said the amendment runs the risk of putting the United States on the side of creating rules for global monetary policy and is “a bridge too far.” 
 
The contentious fast-track legislation has splintered congressional Democrats and put them at odds with President Obama and his bid to push through his trade agenda before he leaves office. 
 
The bill gives Congress an up-or-down vote on trade agreements and doesn’t allow amendments, a process that ensures trading partners that pacts won’t be changed on Capitol Hill. 
 
The Obama administration says the 12-nation TPP would shore up the U.S. economic and strategic presence in the Pacific Rim.
 
“If you want to have influence in Asia you have to pass this TPA bill to ensure that you get a good TPP,” Hatch said.
 
During the markup, Hatch warned lawmakers “to be careful not to amend” the six-year measure, so it wouldn’t differ from the version brokered last week by Hatch, Wyden and House Ways and Means Committee Chairman Paul RyanPaul Davis RyanThe Hill's Morning Report - Crunch time arrives for 2020 Dems with debates on deck Ocasio-Cortez calls out Steve King, Liz Cheney amid controversy over concentration camp remarks Democrats talk up tax credits to counter Trump law MORE (R-Wis.). 
 
The Ways and Means Committee is slated to mark up the bill Thursday. 
 
The committee also easily approved a Trade Adjustment Assistance bill on a 17-9 vote that Hatch and others say will have to pass each chamber simultaneously. 
 
The panel approved, by a voice vote, a package that includes the renewal of the African Growth and Opportunity Act, the Generalized System of Preferences and continuing trade benefits for Haiti.
 
The panel also approved on a voice vote a customs enforcement measure that Wyden said includes the “most robust trade enforcement provisions in decades.”
 
The markup was delayed for five hours after Sen. Bernie SandersBernie SandersThe Hill's Morning Report - Crunch time arrives for 2020 Dems with debates on deck The Memo: All eyes on faltering Biden ahead of first debate Progressive group launches campaign to identify voters who switch to Warren MORE (I-Vt.) used a procedural maneuver earlier in the day to stop all committee hearings until the Senate adjourned for the day. 
 
Although Portman-Stabenow failed to gain traction, the panel did approve two other currency amendments that were attached to the customs legislation. 
 
The first, on a 26-0 vote, was an amendment offered by Sens. Michael Bennet (D-Colo.) and Tom Carper (D-Del.) that would block a country that illegally manipulates its currency from participating in future trade agreements. 
 
The panel also easily approved an amendment, on an 18-8 vote, an effort led by Sen. Charles SchumerCharles (Chuck) Ellis SchumerMcConnell-backed Super PAC says nominating Roy Moore would be 'gift wrapping' seat to Dems McConnell vows to 'vigorously' oppose Moore's Senate bid Pelosi: Trump delay on Harriet Tubman is 'an insult to the hopes of millions' MORE (D-N.Y.) that would impose duties on products from countries that have lowered the value of their currency against the dollar. 
 
Seven Republicans and Cantwell opposed the Schumer amendment.
 
Notably, Schumer said that after consulting other lawmakers, he decided not to push to include the amendment in the fast-track bill.
 
The House and Senate customs bills are different, so there is no guarantee that the currency provisions will survive through the expected conference process. 
 
In a letter to lawmakers on Tuesday, Lew said the Obama administration opposes current legislation, which is similar to Schumer’s amendment, “that would use the countervailing duty process to address currency undervaluation.” 
 
“The legislation raises questions about consistency with our international obligations, and other countries might pursue retaliatory measures that could hurt our exporters,” he wrote. 
 
Schumer called currency manipulation the “most significant trade challenge this country faces.”
 
He said the Obama administration has sold the TPP as a geopolitical necessity to ensure that the United States doesn’t cede more ground to China in the region. 
 
“It also makes sense, that as part of the overall effort, we also should deal with China head on to show them we will not continue business as usual in our direct trade relations with them as well,” Schumer said. 
 
He argued that TPP alone won’t provide the United States with the tools it needs to combat this specific challenge of currency manipulation,” he said. 
 
“It’s time to do something that might solve this problem,” Schumer said. 
 
The panel approved only one amendment to the bill that would promote human rights to a principal negotiating objective. The amendment was authored by Cardin.
 
The panel also approved, on a 16-10 vote, an amendment by Sen. Robert MenendezRobert (Bob) MenendezSenate to vote on blocking Trump's Saudi arms deal as soon as this week There is a severe physician shortage and it will only worsen Democrats ask Fed to probe Trump's Deutsche Bank ties MORE (D-N.J.) that would not allow fast-track for certain countries on the State Department’s list of human traffickers. The list includes Malaysia, which is one of the TPP partners, according to Menendez’s office.
  
—This report was updated on April 23 at 11:33 a.m.