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|WASHINGTON Womens Mens Nike Air Presto Pine Green Shoes Black Green UK , May 1 (Xinhua) -- U.S. senators expressed on Thursday concerns over the prospects of a Trans-Pacific Partnership (TPP) trade deal despite progress made last week between the United States and Japan.
Orrin Hatch, the top Republican at the Senate Finance Committee, said the administration's trade agenda was at risk of failure without trade promotion authority (TPA).
"I do not believe you can conclude high-standard agreements that will meet Congress' approval without TPA," he said during a hearing of the Senate Finance Committee. "History tells us very clearly that without TPA, your trade agenda will almost certainly fail."
TPA, known as "fast track" trade legislation Men's Nike Air Max 97 Shoes Blue White UK , provides that Congress must vote up or down on a proposed trade agreement without the possibility of amendment. Without that guarantee, it's more difficult for other negotiating countries to make significant concessions.
"The political clock is ticking and it won't be long until we will lose the small window we have to pass significant trade legislation this year," Hatch noted.
Charles Schumer, a top senate Democrat in the committee, also warned that the TPP agreement wouldn't win congressional approval unless it included currency manipulation provisions in the trade deal.
"Strong language on currency manipulation is a vital first step to earning Democratic support to pass TPP in the Senate," he said.
Washington had hoped to complete TPP trade negotiations by the end of last year Nike Air Max 97 KPU Black Red UK , but representatives from the 12 participating countries in the Asia Pacific failed to reach a deal in the past several months amid disagreements between the United States and Japan.
The two countries "crossed an important threshold in our bilateral market access discussions," U.S. Trade Representative (USTR) Michael Froman said, referring to U.S. President Barack Obama's visit to Tokyo last week.
"We've identified a path forward on agriculture and autos, two of the most challenging areas of our negotiations with Japan," said he said, adding that currency issues had not been discussed yet in current TPP negotiations Nike Air Max 97 2017 Retro Black UK , as the U.S. Treasury Department has the lead on the issue.
Froman said this "milestone achievement" would provide "significant momentum" to the overall TPP negotiations, although work remains to close the gaps.
The administration was looking forward to working with the Senate Finance Committee (SFC) and Congress as a whole to secure TPA that has as broad bipartisan support as possible, he said.
But SFC Chairman Ron Wyden said that he was still talking to colleagues and there was no timetable for when such a bill might be ready.
Analysts said that it's unlikely for Congress to pass the TPA bill before midterm elections in November. Therefore, chances of wrapping up the TPP trade deal this year appear slim.
The TPP talks were initiated by Singapore, New Zealand, Chile and Brunei Darussalam in 2005 Men's Nike Air Max 97 Shoes All Black UK , but dominated by the United States after it joined the talks in 2008. Japan joined the TPP talks last year.
Potential homebuyers examine a property project model in Hangzhou, capital of Zhejiang province, Aug 31, 2014.[PhotoXinhua]
China's home-price decline continued to ease in December, as fewer cities saw falling prices, the National Bureau of Statistics said.
Prices of new homes dropped from the previous month in 65 of the 70 cities that the bureau tracks Men's Nike Air Max 97 OG GS UK Blue Grey Shoes , according to its statement on Sunday. That compares with declines in 67 cities in November.
New home prices rose 1.2 percent in December in Shenzhen, the only city among the 70 that saw a month-on-month price increase. It is the first time in four months that an NBS-tracked city saw an increase.
"The statistics show the recovery track has been finalized. The month-on-month decline rate continues to fall," said Yan Yuejin, an analyst with E-house China R&D Institute.
"Behind this is the accelerated inventory reduction that has cut developers' incentive to boost sales with lower prices. Some even began to raise their prices."
Housing sales have been rebounding in major cities since October, after the central bank eased mortgage restrictions on Sept 30 and cut interest rate on Nov 21.
Price changes in first-tier cities' pre-owned houses told more of the latest market sentiment. In December, prices of pre-owned homes in all four first-tier cities－Beijing Nike Air Max 97 2017 Retro Metallic Gold UK , Shanghai, Guangzhou and Shenzhen－rose over the previous month. The price increase in Shenzhen was the most, at 0.7 percent.
"If a developer plans a price increase, it has to consider various factors, including peer competition and annual sale target－all made it wary about doing so. By comparison, a landlord of an old home has fewer constraints. Landlords respond faster to market sentiment Nike Air Max 97 2017 Retro Sliver Bullet UK , which translates into earlier price increases in old homes than in new ones," Yan said, explaining the Shenzhen price spike.
Barclays Plc said that if the momentum is maintained, nationwide home sales may see the first year-on-year increase in 12 months in January, signaling the bottom of the market.
Home sales in December rallied from a high in November. Home sales in 30 major cities tracked by E-house in December rose 19.5 percent over November and 26.7 percent higher from a year earlier. Based on this rate of sales, it would take an average 14.3 months to sell off developers' inventories Nike Air Max 90 97 UK , a number that has been dwindling since October.
The momentum eased a bit in January, however. China Index Academy, another private research institution, said housing sales between Jan 5 and 11 declined 5.3 percent over the previous week in terms of floor space. However, that still represented a 30.4 percent year-on-year increase in first-tier cities and a 25.9 percent one-year increase in third-tier cities.
Yan said weaker sales do not equal a weaker market sentiment, as the one-month drop was d.