On Monday, June 29, President Obama signed two bills, and those bills contained six important trade items:

Trade Promotion Authority went through several iterations.  Its last and final Congressional form was as part of H.R. 2146.  It is now Title I of Public Law 114-26.

(The other five reached the President's desk as H.R. 1295, the "Trade Preferences Extension Act of 2015."  This is now Public Law 114-27, and it includes:)

Extension of Trade Adjustment Assistance,

Extension of the African Growth and Opportunity Act,
 
Extension of the Generalized System of Preferences,

Extension of Preferential Duty Treatment for Haiti, and

Amendments to U.S. Antidumping and Countervailing Duty Laws.

The President said it was a good day.  And several of his comments were aimed directly at the next big step in the evolution of U.S. and global trade policy.  This is the Trans-Pacific Partnership Agreement, now being negotiated by the U.S. and eleven other countries.  Here are a few of his comments that touched on TPP:

Finally, and also from the President's remarks at Monday's signing ceremony, here is the full paragraph with today's featured quote.

There are times when our aim is to bring to your attention things you may not have seen.  This isn't one of them.  We know that most of you have already watched or read the President's remarks at Monday's signing ceremony.  Indeed, we expect some of you were there.  It was not only a good day, it was an exceptionally important one, and today's quote is simply our way of ensuring that it is duly noted in this chronicle.

All of the trade legislation that became law on Monday is important, and we will look at different elements in subsequent entries.  That said, the effects are being felt around the world.  Every initiative has more meaning now, and TPP has momentum, with a ministerial meeting being planned for the end of this month, reportedly in Hawaii.

Just as important, the politics are beginning to have an endgame feel to them.  To take the nearest example, the fact that all of Canada's politicians seem to be digging in their heels on Canada's supply management system for dairy and poultry suggests, at least to us, that change indeed may be coming in that sector.  (Our guess is that Canada herself will be the big winner from those changes, but, then again, your editor is not a Canadian dairy farmer.)

Not today of course. 

which marks the 148th anniversary of the enactment of the British North America Act of 1867.   Earlier today, Prime Minister Harper told his countrymen, "We Canadians are blessed to live in the best country in the world."  We expect lots of American leaders will be saying very similar things a few day from now, when the United States celebrates its 239th year of independence.  Can they all be right?  Of course they can.
 
But let's stick with Mr. Harper for just a moment longer.  His message was short, but it did go on to say, "We must remember that our good fortune is not an accident. It's the direct result of visionary leaders..."

The trade challenges ahead are going to take visionary leadership too, not just in Canada but in all 12 TPP countries.  That's for later-not much later, but later.  
For now, our congratulations to all concerned on the U.S. trade laws enacted this week.  And to our Canadian colleagues: