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TPA (“The Bipartisan Congressional Trade Priorities and Accountability Act of 2015”) requires the U.S. International Trade Commission (USITC) to prepare a report assessing the impact of TPP on the U.S. economy, as well as industry sectors and American consumers. It held a hearing on TPP on January 13, 2016. Under TPA, this USITC TPP economic report – which will be made public – is due to the President and the Congress no more than 105 days after the President signs the Agreement.
Last year, the USITC indicated that this report would be ready by May 18, and we will provide you with this report when released.
The political climate remains uncertain for Congressional action on TPP. However, with the presumptive Democratic and Republican Presidential candidates both speaking out in opposition of TPP, most agree that the only window of opportunity for Congressional consideration of TPP is before the new administration takes office. During numerous recent Hill meetings, both legislators and staffers have noted the complicated legislative atmosphere for TPP, but many still hold out hope for movement of this important trade agreement after the Presidential election.