On May 27, chief negotiators representing the 12 participants in the Trans-Pacific Partnership (TPP) wrapped up 10 days of meetings in Guam. The meetings were intended to lay the groundwork for a ministerial-level round of negotiations in the Philippines this weekend, but those talks have been postponed. According to news outlets covering the TPP talks, a ministerial round is unlikely to be held until final congressional action is taken on renewal of Trade Promotion Authority (TPA).
On the evening of May 22, legislation renewing TPA was approved by the U.S. Senate. An amendment requiring retaliatory measures to be imposed on trading partners engaged in currency manipulation, which was opposed by the White House and would have jeopardized passage of the bill, was narrowly defeated on a vote of 48-51. The House of Representatives is expected to take up its version of the TPA renewal bill soon.