Trans-Pacific Partnership Vote Might Be Held in November; Syngenta/ChemChina Merger
Senate Agriculture Chair Pat Roberts says a vote on the Trans-Pacific Partnership is not expected until after the November Elections. The trade deal was formally signed this week but still needs approval from the member countries. Roberts, along with House Agriculture Ranking Democrat Collin Peterson, said the trade deal does not seem likely to be considered before the lame-duck session. Roberts did say members of Congress “are going through 5,000 pages and finding reasons they are not for it.”
Syngenta and ChemChina have come to terms with a $43 billion deal that will transfer Syngenta to the state-owned Chinese company. The deal is the largest-ever purchase by a Chinese firm and was officially announced by both companies Wednesday. China is using the deal as a bid to improve the countries domestic food production. A source close to the deal says Chinese farmland is only 10 percent efficient. Years of intensive farming combined with overuse of chemicals has degraded land and poisoned water supplies, leaving China vulnerable to crop shortages.