US House of Representatives Approve Trade Bill backed by President Obama Thursday June 18,2015

The U.S. House of Representatives on Thursday June 18,2015 approved "fast-track" trade negotiating authority, which President Barack Obama needs to complete a 12-nation Pacific Rim trade pact, although the bill must go back to the Senate for another vote.

The 218-208 House vote to approve the measure on a second attempt in less than one week gives a boost to hopes for swift completion of the Trans-Pacific Partnership, which is central to Obama's focus on strengthening Asian ties.

The move represents a rapid course correction by Republican leaders and Obama, who both favor the proposed Trans-Pacific Partnership (TPP) agreement, a keystone of the president's push to strengthen American ties with Asia.

It takes President Obama a step closer to passing the Trans-Pacific Partnership (TPP) - a deal between the US and 11 other nations to remove or reduce barriers to trade and foreign investment
The deal would include Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru

Businesses support the TPP because they argue that it would open new markets for them.

Unions, on the other hand, are concerned about the effect on jobs.