WASHINGTON (REUTERS) - Legislation to speed trade deals through the US Congress cleared through a key committee on Thursday, but low Democratic support signaled a looming battle over a Pacific trade pact central to President Barack Obama's strategic shift toward Asia.
Democrats and Republicans clashed over proposals to punish countries that manipulate their currencies to gain an export edge and ways to give lawmakers more leverage over trade deals like the 12-nation Trans-Pacific Partnership (TPP).
Despite the partisan wrangling, the vote in the House of Representatives' Ways and Means Committee marked an important step forward for the legislation, which would prohibit Congress from amending trade deals and allow for just yes-or-no votes.
Obama and major US trade partners, including Japan, have said the measure is vital to seal the TPP deal.
Need to pass the bill to understand the beauty. None of our business to describe it differently.
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