The U.S. Senate passed a fast track trade bill some fear will accelerate manufacturing job losses, but also approved a new set of protections for the hard-hit steel industry, which has shed hundreds of jobs in Northwest Indiana this year because of a tidal wave of imports.

The Senate voted 60-38 to send President Barack Obama the Trade Promotion Authority that allows presidents to negotiate trade deals that Congress can vote up or down but not modify, which supporters say can improve access to foreign markets but which critics say can lead to more layoffs at U.S. factories.

The Senate also renewed the Trade Adjustment Assistance program that helps displaced workers who lose jobs because of foreign trade, which includes protections strongly supported by the steel industry.

"The Senate passage of trade remedy measures as part of the trade preferences/TAA bill is an important step forward toward improving the effectiveness of our anti-dumping and countervailing duty laws," American Iron and Steel Institute President and CEO Thomas Gibson said.

"In light of the continued surge in steel imports into the U.S. market, it is critical that our trade laws be strengthened as soon as possible."

The legislation would clarify how much domestic industry has to suffer before duties get imposed, strengthen the Commerce Department's ability to deal with foreign companies that don't cooperate with trade investigations, and better allow the federal government to calculate what tariffs should be when import prices have been distorted.

The bill also would give the Commerce Department more authority to decide which foreign companies to investigate.

Steelmakers optimistic House will approve Senate bill

The U.S. House of Representative still must vote on the bill that includes the steel industry protections. Steelmakers are optimistic it will pass.

"While these provisions are also included in the customs bill that has passed both the House and the Senate, inclusion of these provisions in the preferences/TAA bill will allow these amendments to go to the House for final approval tomorrow, and hopefully be sent to the President by the end of this week," Gibson said.

"We look forward to a successful vote in the House which would send the bill to the President to be signed into law, strengthening the tools available to the industry to combat unfair trade."

U.S. Sen. Joe Donnelly, D-Ind., who voted for the legislation, said it would strengthen trade laws and provide benefits to workers who lost jobs because of foreign trade. He said it would bolster anti-dumping and countervailing duties that domestic steelmakers rely on to defend against foreign steel dumping.

"Hoosier workers are among the best in the world, yet many of them have been hurt as a result of unfair trade policies in recent years, impacting families and our economy," he said.

"The Leveling the Playing Field Act would take important steps to protect American jobs from the unfair trade practices that threaten them. As I have said, given a level field, Hoosier workers and companies can compete with anyone in the world."

U.S. Sen. Dan Coats, R-Ind., voted for the Trade Promotion Authority and said Indiana benefits from $34 billion in exports, including $28 billion from its manufacturing sector. While Northwest Indiana's steel industry exports mainly to Canada and Mexico, other manufacturers in the state ship industrial machinery, medical devices and pharmaceuticals abroad.

"One of the key issues I want to see included in any future trade deal is a reduction in punitive foreign tariffs on U.S. products, which range as high as 70 percent on cars and 75 percent on consumer goods," Coats said.

"This would ensure free and fair trade between our nations. I support increasing international trade, because doing so will strengthen Indiana's economy, create more good-paying jobs and give Hoosier businesses and farmers access to new markets."