Key Trade Law Set To Lapse As Biden Shrugs Off New Deals

By Alex Lawson (June 30, 2021, 3:54 PM EDT) -- A key law laying the groundwork for U.S. trade deals is set to lapse Thursday as the Biden administration has put new accords on the back burner, fueling calls from the business community to more actively engage with trading partners.

Under so-called Trade Promotion Authority, last passed in 2015, Congress sketches out its demands for what U.S. trade pacts should look like and gives the administration an amendment-free vote on any deals it negotiates while the law is in effect. No effort has been made to renew TPA ahead of this week's expiry, as the White House has signaled that new...

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