Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


TPP ratification in US heading for 'lame duck' session: Key

TPP ratification in US heading for 'lame duck' session in late 2016: Key

By Pattrick Smellie

April 4 (BusinessDesk) - US lawmakers and senior officials are leaning towards the likelihood of the Trans-Pacific Partnership achieving ratification in Washington DC during the so-called "lame-duck" session of Congress expected later this year, Prime Minister John Key says.

Speaking at his weekly press conference after returning from a swing to the American capital last week, Key said: "The on balance, considered view of the variety of agencies and people that we spoke to was that they gave it a good chance of passing, but if it was going to pass, it would pass in the lame duck period."

However, it remained unknown whether the numbers to pass TPP legislation would be achieved, he said.

The lame duck sitting, which does not necessarily have to occur and which TPP opponents speculate may be stymied, would occur between the US presidential election in November and the swearing-in of a new US president early next year.

The session has often in the past been a channel for passing legislation that is politically contentious with the general public but which US lawmakers are willing to see go forward.

Key said it was clear that most of the support for TPP was among Republican members of Congress and that they would be weighing up not only the economic but also the geopolitical implications of failing to ratify the 12 nation trade and investment deal.

"For the US, the TPP is not only about economic benefits, but also its continued leadership and relationships in the Asia-Pacific region," said Key. "It's clear that the political environment in the United States is complex right now, but the administration is committed to ratification and I remain optimistic that the TPP will be passed by the US."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Transport Tech: Roadmap To Harness $1.5 Bn Sector

A new Future Technology Leadership Group will help New Zealand harness some of the $1.5 billion a year estimated value to the economy from Intelligent Transport Systems (ITS) as well as the social benefits they create... More>>


Economy: GDP Rises On Strength In Services

The economy, as measured by gross domestic product (GDP), grew 0.6 percent in the December 2017 quarter, Stats NZ said today. Growth was driven by increases in the service industries but was tempered by falls in the primary sector. More>>


Innovative Partnerships:Govt Launches R&D Programme

Research, Science and Innovation Minister Megan Woods has today formally launched the Innovative Partnership programme which aims to attract future-focused international innovators and firms to undertake R&D and develop their products in New Zealand.... More>>


Planes And Oil: Current Account Deficit Widens To $2.0 Billion

New Zealand's seasonally adjusted current account deficit widened to $2.0 billion in the December 2017 quarter, Stats NZ said today. The $407 million increase in the deficit was mainly driven by New Zealand importing aircraft and other transport equipment, and crude oil. More>>


RMTU: Lyttelton Port Strike

Sticking points now include LPC’s insistence on docking the pay of workers who didn’t take part in strike action last week – because they withdrew the strike notice. “In our view this amounts to an illegal lockout.” More>>


"Licensed To Krill": Greenpeace Report On Antarctic Fishing

A new Greenpeace investigation has exposed the environmental risks of the fast-growing krill industry in one of the most pristine parts of the Antarctic Ocean. More>>