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After defining the TPP and listing its pros and cons, now you need to know when to expect it to go into effect. As of right now, it sits with Congress, awaiting legal approval or rejection, pending negotiations. President Obama would like to see this deal passed before his official term is up in January, but considering that it’s such a hot-button subject during an election year, it’s unlikely that it will happen, unless his predecessor changes their stance, pushes through legal hurdles and gets the deal passed. A May 2016 Politico post quoted Senate Majority Leader Mitch McConnell as saying:
“The biggest problem right now is the political environment to pass a trade bill is worse than any time I’ve been in the Senate because we’re right in the middle of this presidential election year, and the candidates are all against what the president has negotiated.”
Many people within the political system are against the TPP in its current state, calling for either a vote against it or at least a legal modification. McConnell wants the tobacco and pharmaceutical sections altered, while House Speaker Paul Ryan would also like to see the TPP tweaked before Congress votes. Like Ryan, Hillary Clinton initially supported the TPP, but is now calling for revisions before it passes. In major news this week, President Obama’s administration has blocked the release of Clinton’s TPP emails until after the November election, leading voters all over the country to question what happened to transparency and if the promised transparency of the TPP would ever be blocked as well.
Congress most likely won’t take any action before the extended mid-July summer break, due to party nominating conventions and the fact that the Obama administration has yet to submit their statement about how the deal could be implemented. This statement must be submitted at least 30 days before Congress can vote. Some people believe that it’s possible to vote on the TPP as early as this fall, but with the delayed statement production and up-coming election, it is unlikely that the TPP will be voted on this year.
Regardless of when the TPP is voted on, it’s important that your company documents are ready for international business. ASTA-USA Legal’s experienced, accredited translators are native speakers, enabling them to translate inferred nuances and colloquialisms that technology-based translations often miss. Our unique, ExAct™ proofreading method ensures that your professional legal translations are 100% accurate. With the ability to translate your confidential legal documents into over 70 languages, ASTA-USA Legal allows your company to expand its reach around the globe.
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