Ryan: Not enough votes for TPP

CBS - House Speaker Paul Ryan, R-Wisconsin, said that the landmark Trans-Pacific Partnership trade deal doesn't have enough votes to pass Congress right now.

"I don't think the votes are there right now because of the concerns about what's in the TPP," Ryan told reporters at his weekly press conference. "The point is we shouldn't bring something up if we're not confident that we have the support there for it so I think the president and the administration has a lot more work to do to get support for this document because there are some legitimate concerns about it."

The president formally signed the deal on February 3, calling it a "forward-looking trade deal that sets new, high standards for trade and investment in one of the world's fastest growing and most important regions." ...

But there are still major concerns about the deal inside and out of Congress, including a carve-out that will prevent tobacco companies from suing nations with regulations aimed at reducing smoking, intellectual property issues relating to biologics, and some provisions dealing with dairy and financial services. There are also still major concerns among labor groups about whether the labor standards are up to snuff.Within 105 days of the signing of the agreement, the U.S. International Trade Commission will conduct an economic review and submit it to Congress, where the deal will be considered by relevant committees, and then the full House and Senate.