Deal opens door to new vote on fast-track after Democrats blocked the measure Tuesday
Senate Majority Leader Sen. Mitch McConnell (R., Ky.) speaks during a news conference Wednesday. He agreed to allow a vote on a currency measure. Photo: CARLOS BARRIA/REUTERS
By Siobhan Hughes and William Mauldin
The Wall Street Journal
WASHINGTON—Senate leaders reached an agreement Wednesday to revive a bill that would provide fast-track trade-negotiation powers to President Barack Obama, one day after the chamber’s Democrats blocked the measure in a stinging defeat for the administration.
The breakthrough came after Senate Majority Leader Mitch McConnell (R., Ky.) allowed a vote on a separate bill intended to protect U.S. firms from currency manipulation and unfair trade practices—a measure Mr. Obama fears could ultimately scuttle the emerging trade deal itself.
Mr. Obama has argued that the fast-track process is necessary to cement the Trans-Pacific Partnership…