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Obama Administration Gives up on TPP

In what could be described as the cherry on top of a rough week for the Obama administration, White House officials said Friday that the Trans-Pacific Partnership (TPP) agreement would not be pushed in the lame-duck session of Congress.

Matthew McAlvanah, a spokesman for U.S. trade representative Mike Froman, told The Wall Street Journal that Republican congressional leaders had made it clear that the landmark 12-nation trade deal, signed in New Zealand in February after seven years of negotiations, would not be considered during President Obama’s remaining time in office.

“Ultimately it is a legislative process and the final step is for Congress to take,” he said.

Read more at Sourcing Journal.