Trans-Pacific Partnership: Crashed and …

After seven years of bargaining, the landmark Trans-Pacific Partnership (TPP) trade pact was seemingly within reach, only to become the latest casualty of the American government's crippling dysfunction. This time it was President Obama's own Democratic Party that did a number on him. Labor unions had threatened to cut off campaign funding to any members who voted to authorize Obama to cut the deal. Clearly many liberal Democrats were spooked. House Minority Leader Nancy Pelosi could have whipped enough members into line to win a bare majority for the requested grant of “trade promotion authority.” Infamously, she did not. Republican House Speaker John Boehner has committed to trying to save the trade pact, but with the opposition of so many Democrats, it appears a long shot at best.

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