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


Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>


Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>


Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>