Setback for TTIP as Congress holds on to trade powers

A fast conclusion to talks between the EU and US on a trade deal became less likely Tuesday, after US senators refused to give president Barack Obama the power to negotiate on their behalf.

Obama had wanted the green-light to fasttrack negotiations and needed the support of 60 out of 100 senators.

But the Trade Promotion Authority bill failed to pass with 52 senators voting in favour, and 45 against.

If the bill had been passed, Congress would have given away its right to a...