Japan’s Lower House to Vote on TPP on Friday

Japan’s House of Representatives will vote on a bill to ratify the Trans-Pacific Partnership trade pact Friday after the ruling and opposition camp agreed on the schedule Tuesday, lawmakers said.

The bill is expected to pass the lower house by a majority vote and be sent to the House of Councillors. The upper house would begin deliberating the measure next Monday, according to the lawmakers.

The main opposition Democratic Party agreed Tuesday to a proposal by the ruling Liberal Democratic Party to put the bill to a vote at a lower ad hoc house committee Wednesday and the chamber’s plenary session Friday, they said.

The lower house began deliberations on the bill last month, with the administration of Prime Minister Shinzo Abe racing to get the U.S.-led deal approved before the current extraordinary parliamentary session ends on Nov. 30.

Japan, the United States and 10 other Pacific Rim countries inked the pact in February.

via Mainichi

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza