That was President Obama in his State of the Union address last January.  Yes, this is the second time we have run this quote.  The first time was the following day, January 29, and in that entry we also took note of Senator Reid's  reaction on the Senate Floor, and the January 29 Politico story with the headline, "Harry Reid rejects President Obama's trade push."  We apologize for the repetition, but this isn't just an old movie.  The context has changed. 

Tuesday's election has put future control of the Senate in Republican hands, and the President is about to head off to China where the topic will be trade, trade, and more trade.  He and his team will be dealing with the Information Technology Agreement - see Wednesday's quote  -- TPP, the U.S.-China investment treaty, the WTO, and the future of APEC.  And that's not counting the trade talks that will surround him on issues like RCEP and possible bilateral agreements among other APEC members.

We are dealing with a new situation, and from our perspective, the next scene in that drama will be this afternoon's White House meeting between President Obama and Congressional leaders.  We are not sure just who will be there.  We assume that, at the very least, the meeting will include House Speaker John Boehner (R OH), Senator Majority Leader Harry Reid (D NV), and the likely Senate Majority Leader for the 114th Congress, Senator Mitch McConnell (R KY). 

Our strong hope is that President Obama will use the meeting to urge Congress to act now, in the upcoming lame duck session, on Trade Promotion Authority.  And we hope the Congressional leaders will agree to do just that.  We especially hope that Senator Reid will offer his support, as he will decide what the Senate will and will not consider between now and January.  The rationale for acting on TPP now is as compelling as it is obvious, beginning with these three considerations:  

One, trade still is fundamentally a bipartisan issue, with trade promoters and trade skeptics on both sides of the aisle.  It is a logical starting point for the promised - and hoped for - post-election cooperation between Congress and the Executive Branch.

Two, the world will be watching this afternoon's meeting.  China, Japan, the EU, Canada, and Latin America will all be watching to see if Trade Promotion Authority is part of the new bi-partisan mix.  If it is, they will draw one conclusion.   If it is not, they will draw another.  Trade policy is a shared responsibility in the U.S. system.  If the President wants to be able to deal from strength in Asia, he will ask for TPA.  And if Congress wants him to get the best deals possible, they will give it to him.

Three, the drafting has been done.   The principal bill is "The Bipartisan Congressional Trade Priorities Act of 2014," which was introduced in both the Senate and House on January 9, 2014.   Senator Baucus (D MT) was chairman of the Senate Finance Committee then, and he introduced the bill, along with Senator Hatch (R-UT), the ranking member.  House Ways and Means Committee Chairman Dave Camp (R MI) introduced the bill on the same day in the House.

Yes, there have been a lot of changes since then.  Max Baucus is now America's Ambassador to China.  Senator Hatch is almost certain to be the next chairman of the Finance Committee.  The current chairman is Senator Ron Wyden (D OR).  A TPA bill in the lame duck session would, of course, have to take into account Senator Wyden's views - any bill would.  Our impression is that all of that should be manageable if Senator Reid will agree to bring TPA legislation to the floor.
 
Whatever happens, this afternoon's White House meeting will be important.  We doubt it will be easy for any one.  As for Trade Promotion Authority, we're keeping our fingers crossed.