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The 5 things the footwear industry needs to know about TPP

Published on February 11, 2016

As the Trans Pacific Partnership (TPP) comes closer to passing, experts continue to pick apart the dense text and interpret the changes the agreement will put into place. Here are the five things you need to know now about the trade agreement and how it will impact the footwear sector.

June is the earliest date Congress will likely vote on TPP

TPP nations are expected to gather in New Zealand to sign the TPP on Feb. 4. According to Elise Shibles, a member of trade law firm Sandler, Travis & Rosenberg, P.A., several next steps will be taken after signing and before Congress votes on a TPP implementation bill, including the completion of the United States International Trade Commission (USITC) report, which should be ready in mid-May. Congress likely won’t consider the bill before reviewing this report, so the agreement could be voted on early this summer. Once the TPP implementation bill goes to Congress, the House must vote on the bill within 60 legislative days and the Senate must vote within 15 days after the House votes. Read more. Source | Magic Online