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• Trans-Pacific Partnership (TPP) Negotiations and Issues for Congress [December 13, 2013]

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  "The TPP [Trans-Pacific Partnership] serves several strategic goals in U.S. trade policy. First, it is the leading trade policy initiative of the Obama Administration, and is a manifestation of the Administration's 'rebalance' to the Asia-Pacific. If concluded, it may serve to shape the economic architecture of the Asia- Pacific region by harmonizing existing agreements with U.S. FTA [Free Trade Agreement] partners, attracting new participants, and establishing regional rules on new policy issues facing the global economy-- possibly providing impetus to future multilateral liberalization under the WTO [World Trade Organization]. As the negotiations proceed, a number of issues important to Congress are emerging. One is whether the United States can balance its vision of creating a 'comprehensive and high standard' agreement with a large and expanding group of countries, while not insisting on terms that other countries will reject. Another issue is how Congress will consider the TPP, if concluded. The present negotiations are not being conducted under the auspices of formal trade promotion authority (TPA)--the latest TPA expired on July 1, 2007--although the Administration informally is following the procedures of the former TPA. If TPP implementing legislation is brought to Congress, TPA may need to be considered if the legislation is not to be subject to potentially debilitating amendments or rejection. In addition, Members of Congress may wish to consider whether the current chapters included in the agreement appropriately address their trade policy concerns, as well as the potential agreement's impact on the multilateral trading system."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; Cooper, William H., 1949-; Jurenas, Remy . . .

  2013-12-13
• Trade in Services: The Doha Development Agenda Negotiations and U.S. Goals [March 10, 2011]

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  "The United States and the other 153 members of the World Trade Organization (WTO) have been conducting a set or 'round' of negotiations called the Doha Development Agenda (DDA) since the end of 2001. The DDA's main objective is to refine and expand the rules by which WTO members conduct foreign trade with one another. A critical element of the DDA round is the negotiations pertaining to foreign trade in services. […] In July 2006, WTO Director-General Pascal Lamy suspended the DDA negotiations, including the services negotiations, because major WTO members could not agree on the terms or modalities for negotiations in agriculture and nonagriculture market access. He resumed the negotiations in 2007. In 2009, negotiators from major groups of developed and developing countries have worked to nail down the basic elements of a draft text; however, they failed so far to reach a consensus on the basic negotiating modalities. 2010 also produced little progress as the services negotiations continued to be hostage to the negotiations on agricultural and non-agricultural market access (NAMA) negotiations, which also showed little progress. […] This report will be updated as events warrant. Many Members of Congress consider the services negotiations to be a critical part, if not the most critical part, of the DDA round."

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-

  2011-03-10
• Trade Promotion Authority (TPA): Issues, Options, and Prospects for Renewal [January 7, 2008]

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  "On July 1, 2007, Trade Promotion Authority (TPA -- formerly known as fast track), expired. TPA is the authority Congress grants to the President to enter into certain reciprocal trade agreements (FTAs), and to have their implementing bills considered under expedited legislative procedures, provided he observes certain statutory obligations in negotiating them. TPA allows Congress to exercise its constitutional authority over trade, while giving the President added leverage to exercise his authority to negotiate trade agreements by effectively assuring U.S. trade partners that final agreements are given swift and unamended consideration. […] Bilateral agreements with Panama, Peru, Colombia, and South Korea were signed in time to be considered under the 2002 TPA. The House and Senate passed implementing legislation for the Peru FTA, which President Bush signed into law on December 14, 2007. No action has been take on the others. The protracted World Trade Organization (WTO) Doha Round of multilateral negotiations are still incomplete and may yet result in the remaining key trade agreement that could compel Congress to consider extending or renewing TPA. Some observers also suggest that TPA is important to support future bilateral FTA negotiations, particularly given that many countries appear ready to continue pursuing FTAs irrespective of U.S. trade policy. Key Members of the House and Senate, however, have signaled that TPA renewal is not at the top of the legislative agenda and will require considerable deliberation before it can be passed. Congress has many options in dealing with TPA: take no action; extend temporarily; revise and renew; grant permanent authority; or devise some hybrid solution. How this issue plays out depends on a host of political and economic variables. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cooper, William H., 1949-

  2008-01-07
• Trade Promotion Authority (TPA) and the Role of Congress in Trade Policy [August 9, 2012]

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  "On July 1, 2007, Trade Promotion Authority (TPA--previously know[n] as fast track) expired. TPA is the authority Congress grants to the President to enter into certain reciprocal trade agreements, and to have their implementing bills considered under expedited legislative procedures, provided the President observes certain statutory obligations. TPA defines how Congress has chosen to exercise its constitutional authority over a particular aspect of trade policy, while giving the President added leverage to negotiate trade agreements by effectively assuring U.S. trade partners that final agreements will be given timely and unamended consideration. TPA reflects decades of debate, cooperation, and compromise between Congress and the executive branch in finding a pragmatic accommodation to the exercise of each branch's respective authorities. The expedited legislative procedures have not changed since first enacted into permanent law as sections 151-154 of the Trade Act of 1974. Congress, however, has required that the authority to use TPA be periodically reauthorized, and at times has chosen to revise trade negotiation objectives, the consultative mechanism, and presidential notification requirements."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cooper, William H., 1949-

  2012-08-09
• Trade Promotion Authority (TPA) and the Role of Congress in Trade Policy [February 8, 2011]

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  "On July 1, 2007, Trade Promotion Authority (TPA--previously fast track) expired, and with it the authority that Congress grants to the President to enter into certain reciprocal (free) trade agreements, and to have the requisite implementing legislation considered under expedited legislative procedures. Although the President has the authority under the Constitution to negotiate free trade agreements (FTAs), typically implementing legislation and thus congressional action are required to bring them into force. This report presents background and analysis on the development of TPA, a summary of the major provisions under the expired authority, and a discussion of the issues that have arisen in the debate over TPA renewal. It also explores the policy options available to Congress."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cooper, William H., 1949-

  2011-02-08
• Trade Primer: Qs and As on Trade Concepts, Performance, and Policy [March 27, 2007]

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  "The 110th Congress has a full legislative and oversight agenda on international trade. The agenda may include considering legislation to implement a number of free trade agreements, possible renewal of trade promotion authority (TPA), as well as oversight of U.S. trade relations with China. This report provides information and context for many of these topics. It is intended to be read primarily by Members and staff who may be new to trade issues. This report is divided into four sections in a question-and-answer format: trade concepts, U.S. trade performance, formulation of U.S. trade policy, and trade and investment issues. Additional suggested readings are provided in an appendix."

  Library of Congress. Congressional Research Service

  Ahearn, Raymond J.; Bolle, Mary Jane; Cooper, William H., 1949- . . .

  2007-03-27
• Trade Promotion Authority (TPA) and the Role of Congress in Trade Policy [January 13, 2014]

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  "In July 1, 2007, Trade Promotion Authority (TPA--previously known as fast track) expired. TPA is the authority that Congress grants to the President to enter into certain reciprocal trade agreements, and to have the requisite implementing legislation considered under expedited legislative procedures. Although the President has the authority under the Constitution to negotiate international agreements, typically a reciprocal trade agreement requires an implementing bill and, therefore, congressional action to bring it into force. Many Members of Congress have advocated for renewal of TPA .On July 30, 2013, President Obama requested that Congress reauthorize TPA. On January 9, 2014, legislation to renew TPA--the Bipartisan Congressional Trade Priorities Act of 2014--was introduced in the House (H.R. 3830) and in the Senate (S. 1900). The legislation would reauthorize TPA for four years with the possibility of a three-year extension. Alternative bills may also be introduced during the second session of the 113th Congress. Although there appears to be support for renewal of TPA in Congress, the details of the legislation are likely to be subject to considerable debate, including the specific treatment of any related TAA [Trade Adjustment Assistance] program reauthorization. This report presents background and analysis on the development of TPA, a summary of the major provisions under the expired authority, and a discussion of the issues that have arisen in the debate over TPA renewal. It also explores some of the policy options available to Congress."

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-

  2014-01-13
• Trans-Pacific Partnership Negotiations and Issues for Congress [April 15, 2013]

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  "The Trans-Pacific Partnership (TPP) is a potential free trade agreement (FTA) among 11, and perhaps more, countries. The United States and 10 other countries of the Asia-Pacific region-- Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam--are negotiating the text of the FTA. With 29 chapters under negotiation, the TPP partners envision the agreement to be 'comprehensive and high-standard,' in that they seek to eliminate tariffs and non-tariff barriers to trade in goods, services, and agriculture, and to establish rules on a wide range of issues including foreign direct investment and other economic activities. They also strive to create a '21st-century agreement' that addresses new and crosscutting issues presented by an increasingly globalized economy. The TPP draws congressional interest on a number of fronts. Congress would have to approve implementing legislation for U.S. commitments under the agreement to enter into force. In addition, under long-established executive-legislative practice, the Administration notifies and consults with congressional leaders, before, during, and after trade agreements have been negotiated. Furthermore, the TPP will likely affect a range of sectors and regions of the U.S. economy of direct interest to Members of Congress and could influence the shape and path of U.S. trade policy for the foreseeable future. This report examines the issues related to the proposed TPP, the state and substance of the negotiations (to the degree that the information is publically available), the specific areas under negotiation, the policy and economic contexts in which the TPP would fit, and the issues for Congress that the TPP presents. The report will be revised and updated as events warrant."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; Cooper, William H., 1949-; Jurenas, Remy . . .

  2013-04-15
• Trans-Pacific Partnership Negotiations and Issues for Congress [March 19, 2013]

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  "The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) being negotiated among the United States, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. On March 15, 2013, Japanese Prime Minister Shinzo Abe announced that Japan would seek to participate in the TPP negotiations. [...] The 16th round of negotiations concluded in Singapore on March 14, 2013, and the 17th round is scheduled to be held in Lima, Peru in May 2013. The current goal is to reach an agreement in time for the October 2013 APEC summit in Indonesia. For this deadline to be achieved, outstanding negotiating positions may need to be tabled soon in order for political decisions to be made. [...] As the negotiations proceed, a number of issues important to Congress are emerging. One is whether the United States can balance its vision of creating a 'comprehensive and high standard' agreement with a large and expanding group of countries, while not insisting on terms that other countries will reject. Another issue is how Congress will consider the TPP, if concluded. The present negotiations are not being conducted under the auspices of formal trade promotion authority (TPA)--the latest TPA expired on July 1, 2007--although the Administration informally is following the procedures of the former TPA. If TPP implementing legislation is brought to Congress, TPA may need to be considered if the legislation is not to be subject to potentially debilitating amendments or rejection. Finally, Congress may seek to weigh in on the addition of new members to the negotiations, before or after the negotiations conclude."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; Cooper, William H., 1949-; Jurenas, Remy . . .

  2013-03-19
• Trans-Pacific Partnership Negotiations and Issues for Congress [August 21, 2013]

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  "The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) being negotiated among the United States, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. On March 15, 2013, Japanese Prime Minister Shinzo Abe announced that Japan would seek to participate in the TPP negotiations. On April 24, 2013, the Obama Administration gave Congress notice of its intent to negotiate with Japan in the TPP, and Japan participated for the first time in the round of negotiations in Malaysia during late July 2013. [...] The TPP serves several strategic goals in U.S. trade policy. First, it is the leading trade policy initiative of the Obama Administration, and is a manifestation of the Administration's 'pivot' to Asia. If concluded, it may serve to shape the economic architecture of the Asia-Pacific region by harmonizing existing agreements with U.S. FTA partners, attracting new participants, and establishing regional rules on new policy issues facing the global economy--possibly providing impetus to future multilateral liberalization under the WTO [World Trade Organization]. As the negotiations proceed, a number of issues important to Congress are emerging. One is whether the United States can balance its vision of creating a 'comprehensive and high standard' agreement with a large and expanding group of countries, while not insisting on terms that other countries will reject. Another issue is how Congress will consider the TPP, if concluded. The present negotiations are not being conducted under the auspices of formal trade promotion authority (TPA)--the latest TPA expired on July 1, 2007--although the Administration informally is following the procedures of the former TPA. If TPP implementing legislation is brought to Congress, TPA may need to be considered if the legislation is not to be subject to potentially debilitating amendments or rejection. Finally, Congress may seek to weigh in on the addition of new members to the negotiations, before or after the negotiations conclude."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; Cooper, William H., 1949-; Jurenas, Remy . . .

  2013-08-21
• Trade Promotion Authority (TPA): Issues, Options, and Prospects for Renewal [Updated July 12, 2007]

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  "On July 1, 2007, Trade Promotion Authority (TPA -- formerly known as fast track), expired. TPA is the authority Congress grants to the President to enter into certain free trade agreements (FTAs), and to have their implementing bills considered under expedited legislative procedures, provided he observes certain statutory obligations in negotiating them. TPA allows Congress to exercise its constitutional authority over trade, while giving the President added leverage to exercise his authority to negotiate trade agreements by effectively assuring U.S. trade partners that final agreements are given swift and unamended consideration. […] Bilateral agreements with Panama, Peru, Colombia, and South Korea were signed in time to be considered under the 2002 TPA. The protracted WTO [World Trade Organization] Doha Round of multilateral negotiations is still incomplete and may yet be the remaining key trade agreement that could compel Congress to consider extending or renewing TPA. Some observers also suggest that TPA is important to support future bilateral FTA negotiations, particularly given that many countries appear ready to continue pursuing FTAs irrespective of U.S. trade policy. Key Members of the House and Senate, however, have signaled that TPA renewal is not at the top of the legislative agenda and will require considerable deliberation before it can be passed. Congress has many options in dealing with TPA: take no action; extend temporarily; revise and renew; grant permanent authority; or devise some hybrid solution. How this issue plays out depends on a host of political and economic variables. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cooper, William H., 1949-

  2007-07-12
• Trade Promotion Authority (TPA): Issues, Options, and Prospects for Renewal [December 5, 2006]

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  "TPA [Trade Promotion Authority] reflects years of debate, cooperation, and compromise between Congress and the Executive Branch. Congress has express constitutional authority to impose duties and regulate foreign commerce, while the President has the sole authority to negotiate international agreements and exerts broad power over U.S. foreign policy. TPA arose from a pragmatic need to accommodate these authorities in the conduct of U.S. trade policy, as well as address concerns that constituent pressures can often lead to poor trade policy decisions. The 'Smoot-Hawley' Tariff Act of 1930, for example, raised tariffs significantly, diminishing trade and prolonging the Great Depression. In response, Congress delegated to the President in 1934 authority to negotiate pre-approved reductions in tariff rates. TPA evolved in 1974 from this precedent to allow the President to negotiate non-tariff barriers (NTBs), provided he comply with various congressional requirements set out in the statute. The core provisions of the fast track legislative procedures have remained virtually unchanged since they were first enacted, although Congress has expanded trade negotiation objectives, oversight, and presidential notification requirements. While early versions of fast track/TPA received broad bipartisan support, renewal efforts became increasingly controversial as fears grew over the perceived negative effects of trade, and as the trade debate became more partisan in nature. Congress last renewed TPA in the Trade Act of 2002 following a pitched battle and largely partisan-line vote. Two key issues dominated: labor and environment provisions and guaranteeing a bipartisan congressional role in trade policy making."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cooper, William H., 1949-

  2006-12-05
• Trade in Services: The Doha Development Agenda Negotiations and U.S. Goals [April 7, 2010]

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  "The United States and the other 153 members of the World Trade Organization (WTO) have been conducting a set or 'round' of negotiations called the Doha Development Agenda (DDA) since the end of 2001. The DDA's main objective is to refine and expand the rules by which WTO members conduct foreign trade with one another. A critical element of the DDA round is the negotiations pertaining to foreign trade in services. Trade in services has been covered under multilateral rules only since 1995 with the entry into force of the General Agreement on Trade in Services (GATS) and of the Uruguay Round Agreements creating the WTO. The negotiations on services in the DDA round have two fundamental objectives. One objective is to reform the current GATS rules and principles. The second objective is for each member country to open more of its service sectors to foreign competition. The WTO services negotiations have been going on for more than 10 years. However, as with the negotiations in agriculture and non-agriculture market access, the services negotiations have proceeded slowly with missed deadlines and few results."

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-

  2010-04-07
• Trans-Pacific Partnership Negotiations and Issues for Congress [September 5, 2012]

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  "The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) being negotiated among the United States, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. U.S. negotiators and others describe and envision the TPP as a 'comprehensive and high-standard' FTA, presumably because they hope it will liberalize trade in nearly all goods and services and include commitments beyond those currently established in the World Trade Organization (WTO). The broad outline of an agreement was announced on the sidelines of the Asia-Pacific Economic Cooperation (APEC) ministerial in November 2011 in Honolulu, Hawaii. If implemented, the TPP potentially could eliminate tariff and non-tariff barriers to trade and investment among the parties and could serve as a template for a future trade pact among APEC members and potentially other countries. Congress has a direct interest in the negotiations, both through influencing U.S. negotiating positions with the executive branch, and by passing legislation to implement any resulting agreement."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; Cooper, William H., 1949-; Jurenas, Remy

  2012-09-05
• Trade Primer: Qs and As on Trade Concepts, Performance, and Policy [January 18, 2013]

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  "The 113th Congress may have a full legislative and oversight agenda on international trade. This may include consideration of legislation to reauthorize Trade Promotion Authority (TPA) and implementation of a possible Trans-Pacific Partnership (TPP) trade agreement. Congress may also pay close attention to the new negotiation for an International Services Agreement and developments in the Doha Development Round, both under the auspices of the World Trade Organization (WTO). There is also discussion of beginning trade negotiations for a U.S.- European Union free trade agreement (FTA). Other issues might include enhanced enforcement of U.S. trade agreements and trade relations with China. This report provides information and context for these and many other trade topics. It is intended to assist Members and staff who may be new to trade issues. For more details on specific trade issues facing the 113th Congress see CRS Report R42882, 'International Trade and Finance: Key Policy Issues for the 113th Congress,' coordinated by Mary A. Irace and J. F. Hornbeck. This report is divided into four sections in a question-and-answer format: trade concepts; U.S. trade performance; formulation of U.S. trade policy; and trade and investment issues. Additional suggested readings are provided in an appendix."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Bolle, Mary Jane; Cooper, William H., 1949- . . .

  2013-01-18
• Trade Promotion Authority (TPA) and the Role of Congress in Trade Policy [January 14, 2013]

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  "On July 1, 2007, Trade Promotion Authority (TPA--previously known as fast track) expired. TPA is the authority Congress grants to the President to enter into certain reciprocal trade agreements, and to have their implementing bills considered under expedited legislative procedures, provided the President observes certain statutory obligations. TPA defines how Congress has chosen to exercise its constitutional authority over a particular aspect of trade policy, while giving the President added leverage to negotiate trade agreements by effectively assuring U.S. trade partners that final agreements will be given timely and unamended consideration. […] Should Congress decide to consider reauthorizing TPA, it has many options including, but not limited to (1) taking no action; (2) extending temporarily; (3) revising and renewing; or (4) granting permanent authority. How this issue evolves also depends on a host of political and economic variables, including congressional action on reinvigorating a 'political compact' that sits at the center of a well-functioning TPA process."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cooper, William H., 1949-

  2013-01-14
• Trans-Pacific Partnership Negotiations and Issues for Congress [June 17, 2013]

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  "The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) being negotiated among the United States, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. On March 15, 2013, Japanese Prime Minister Shinzo Abe announced that Japan would seek to participate in the TPP negotiations. On April 24, 2013, the Obama Administration gave Congress notice of its intent to negotiate with Japan in the TPP, and Japan is expected to participate in the next round of negotiations in late July 2013. U.S. negotiators and others describe and envision the TPP as a 'comprehensive and high-standard' FTA that aims to liberalize trade in nearly all goods and services and include commitments beyond those currently established in the World Trade Organization (WTO). The broad outline of an agreement was announced on the sidelines of the Asia-Pacific Economic Cooperation (APEC) ministerial in November 2011, in Honolulu, HI. If concluded as envisioned, the TPP potentially could eliminate tariff and non-tariff barriers to trade and investment among the parties and could serve as a template for a future trade pact among APEC members and potentially other countries. Congress has a direct interest in the negotiations, both through influencing U.S. negotiating positions with the executive branch, and by passing legislation to implement any resulting agreement."

  Library of Congress. Congressional Research Service

  Williams, Brock R.; Jurenas, Remy; Cooper, William H., 1949- . . .

  2013-06-17
• Trade Promotion Authority (TPA): Issues, Options, and Prospects for Renewal [November 1, 2007]

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  "On July 1, 2007, Trade Promotion Authority (TPA -- formerly known as fast track), expired. TPA is the authority Congress grants to the President to enter into certain free trade agreements (FTAs), and to have their implementing bills considered under expedited legislative procedures, provided he observes certain statutory obligations in negotiating them. TPA allows Congress to exercise its constitutional authority over trade, while giving the President added leverage to exercise his authority to negotiate trade agreements by effectively assuring U.S. trade partners that final agreements are given swift and unamended consideration. […] Bilateral agreements with Panama, Peru, Colombia, and South Korea were signed in time to be considered under the 2002 TPA. The House is expected to consider the implementing legislation (H.R. 3688) for the U.S.-Peru FTA during the week of November 5, 2007. The protracted World Trade Organization (WTO) Doha Round of multilateral negotiations is still incomplete and may yet be the remaining key trade agreement that could compel Congress to consider extending or renewing TPA. Some observers also suggest that TPA is important to support future bilateral FTA negotiations, particularly given that many countries appear ready to continue pursuing FTAs irrespective of U.S. trade policy. Key Members of the House and Senate, however, have signaled that TPA renewal is not at the top of the legislative agenda and will require considerable deliberation before it can be passed. Congress has many options in dealing with TPA: take no action; extend temporarily; revise and renew; grant permanent authority; or devise some hybrid solution. How this issue plays out depends on a host of political and economic variables. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cooper, William H., 1949-

  2007-11-01
• Trans-Pacific Partnership Negotiations and Issues for Congress [January 24, 2013]

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  "The Trans-Pacific Partnership (TPP) is a potential free trade agreement (FTA) among 11, and perhaps more, countries. The United States and 10 other countries of the Asia-Pacific region-- Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam--are negotiating the text of the FTA. Canada and Mexico participated for the first time in the Auckland round of negotiations in December 2012, and Japan and Thailand are also considering the possibility of joining. With 29 chapters under negotiation, the TPP partners envision the agreement to be 'comprehensive and high-standard,' in that they seek to eliminate tariffs and non-tariff barriers to trade in goods, services, and agriculture, and to establish rules on a wide range of issues including foreign direct investment and other economic activities. They also strive to create a '21st-century agreement' that addresses new and cross-cutting issues presented by an increasingly globalized economy. […] This report examines the issues related to the proposed TPP, the state and substance of the negotiations (to the degree that the information is publically available), the specific areas under negotiation, the policy and economic contexts in which the TPP would fit, and the issues for Congress that the TPP presents. The report will be revised and updated as events warrant."

  Library of Congress. Congressional Research Service

  Williams, Brock R.; Jurenas, Remy; Cooper, William H., 1949- . . .

  2013-01-24
• Trans-Pacific Partnership Negotiations and Issues for Congress [November 21, 2012]

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  "The Trans-Pacific Partnership (TPP) is a potential free trade agreement (FTA) among 11, and perhaps more, countries. The United States and eight other countries of the Asia-Pacific region-- Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam--are negotiating the text of the FTA. Canada and Mexico will join the negotiations in the fall of 2012, and Japan and Thailand are also considering the possibility of joining. With 29 chapters under negotiation, the TPP partners envision the agreement to be 'comprehensive and high-standard,' in that they seek to eliminate tariffs and non-tariff barriers to trade in goods, services, and agriculture, and to establish rules on a wide range of issues including foreign direct investment and other economic activities. They also strive to create a '21st-century agreement' that addresses new and crosscutting issues presented by an increasingly globalized economy. The TPP draws congressional interest on a number of fronts. Congress would have to approve implementing legislation for U.S. commitments under the agreement to enter into force. In addition, under long-established executive-legislative practice, the Administration notifies and consults with congressional leaders, before, during, and after trade agreements have been negotiated. Furthermore, the TPP will likely affect a range of sectors and regions of the U.S. economy of direct interest to Members of Congress and could influence the shape and path of U.S. trade policy for the foreseeable future. This report examines the issues related to the proposed TPP, the state and substance of the negotiations (to the degree that the information is publically available), the specific areas under negotiation, the policy and economic contexts in which the TPP would fit, and the issues for Congress that the TPP presents. The report will be revised and updated as events warrant."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; Cooper, William H., 1949-; Jurenas, Remy

  2012-11-21
• Trade Promotion Authority (TPA) and the Role of Congress in Trade Policy [April 7, 2011]

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  "On July 1, 2007, Trade Promotion Authority (TPA--previously fast track), expired. TPA is the authority Congress grants to the President to enter into certain reciprocal (free) trade agreements (FTAs), and to have their implementing bills considered under expedited legislative procedures, provided he observes certain statutory obligations in negotiating them. TPA defines how Congress has chosen to exercise its constitutional authority over a particular aspect of trade policy, while presumably giving the President added leverage to exercise his authority to negotiate trade agreements by effectively assuring U.S. trade partners that final agreements will be given swift and unamended consideration. [...] The prospects for renewing TPA are unclear and depend on one's perspective as to whether having TPA in place benefits the U.S. negotiation position. Technically, TPA is not necessary to begin or even conclude trade negotiations, but it is widely understood to be a key element of getting a trade implementing bill passed in Congress, and so its renewal can be construed as signaling U.S. support for moving ahead with trade negotiations. When Congress decides to consider the issue, it has many options including: take no action; extend temporarily; revise and renew; grant permanent authority; or devise some hybrid solution. How this issue plays out depends on a host of political and economic variables, including congressional action on restoring a 'political compact' that sits at the center of a well functioning TPA process."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cooper, William H., 1949-

  2011-04-07
• Trade Promotion Authority (TPA) and the Role of Congress in Trade Policy [August 2, 2013]

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  "On July 1, 2007, Trade Promotion Authority (TPA--previously known as fast track) expired. TPA is the authority Congress grants to the President to enter into certain reciprocal trade agreements, and to have their implementing bills considered under expedited legislative procedures, provided the President observes certain statutory obligations. TPA defines how Congress has chosen to exercise its constitutional authority over a particular aspect of trade policy, while giving the President added leverage to negotiate trade agreements by effectively assuring U.S. trade partners that final agreements will be given timely and unamended consideration. Members of Congress have advocated for renewal of TPA and on July 30, 2013, President Obama requested in a speech that Congress provide this renewed authority in light of four trade agreements currently being negotiated: 1) the multilateral Doha Development Round of the World Trade Organization (WTO); 2) the Trans-Pacific Partnership (TPP); 3) the Transatlantic Trade and Investment Partnership (TTIP); and 4) the Trade in Services Agreement (TISA). President Obama also linked renewal of TPA and trade adjustment assistance (TAA) programs, which are scheduled to expire on December 31, 2013. […] Although there appears to be support for renewal of TPA in Congress, the details of the legislation are likely to be subject to considerable debate, including the specific treatment of any related TAA program reauthorization. This report presents background and analysis on the development of TPA, a summary of the major provisions under the expired authority, and a discussion of the issues that have arisen in the debate over TPA renewal. It also explores some of the policy options available to Congress."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cooper, William H., 1949-

  2013-08-02
• Trade in Services: The Doha Development Agenda Negotiations and U.S. Goals [September 12, 2005]

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  The United States and the other 147 members of the World Trade Organization (WTO) are engaged in a set or 'round' of negotiations called the Doha Development Agenda (DDA). The DDA's main objective is to refine and expand the rules by which WTO members conduct foreign trade with one another. A critical element of the DDA round is the negotiations pertaining to foreign trade in services. Trade in services has been covered under multilateral rules only since 1995 with the entry into force of the General Agreement on Trade in Services (GATS) and of the Uruguay Round Agreements creating the WTO. [...] WTO negotiators are looking at completing the Doha Development Agenda Round by the end of 2006. U.S. negotiators also face the June 30, 2007 deadline at which time the President's trade promotion authority will expire. Under this authority, trade agreements are given expedited (limited debate, no amendments) congressional consideration. [...] This report will be updated as events warrant.

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-

  2005-09-12
• U.S.-Japan Economic Relations: Significance, Prospects, and Policy Options [Updated August 30, 2006]

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  "Japan and the United States are the two largest economic powers. Together they account for over 40% of world domestic product, for a significant portion of international trade in goods and services, and for a major portion of international investment. This economic clout makes the United States and Japan powerful actors in the world economy. Economic conditions in the United States and Japan have a significant impact on the rest of the world. Furthermore, the U.S.-Japan bilateral economic relationship can influence economic conditions in other countries. The U.S.-Japan economic relationship is very strong and mutually advantageous. The two economies are highly integrated via trade in goods and services - they are large markets for each other's exports and important sources of imports. More importantly, Japan and the United States are closely connected via capital flows. Japan is the largest foreign source of financing of the U.S. national debt and will likely remain so for the foreseeable future, as the mounting U.S. debt needs to be financed and the stock of U.S. domestic savings remains insufficient to meet the demand. Japan is also a significant source of foreign private portfolio and direct investment in the United States, and the United States is the origin of much of the foreign investment in Japan. The relative significance of Japan and the United States as each other's economic partner has diminished somewhat with the rise of China as an economic power, and with U.S. economic ties with Canada and Mexico deepening as a result of the North American Free Trade Agreement (NAFTA). Nevertheless, analyses of trade and other economic data suggest that the bilateral relationship remains important, and policy leaders of both countries face the challenge of how to manage it."

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-

  2006-08-30
• U.S.-Japan Economic Relations: Significance, Prospects, and Policy Options [Updated July 9, 2007]

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  "During the last decade policy leaders seem to have made a deliberate effort to drastically reduce the friction that prevailed in the economic relationship. On the one hand, this calmer environment has stabilized the bilateral relationship and permitted the two countries to focus their attention on other issues of mutual interest, such as national security. On the other hand, as some have argued, the friendlier environment masks serious problems that require more attention, such as continuing Japanese failure to resolve long-standing market access barriers to U.S. exports of autos and auto parts and flat glass and the failure of the two countries to reduce bilateral trade imbalances. Failure to resolve any of these outstanding issues could cause heightened friction between the two countries. Issues regarding U.S.-Japan economic relations may emerge on the agenda of the 110th Congress. U.S. and Japanese leaders have several options on how to manage their relationship including stronger reliance on the World Trade Organization; special bilateral negotiating frameworks and agreements; or a free trade agreement. Each option has its advantages and drawbacks and they are not necessarily mutually exclusive. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-

  2007-07-09
• U.S.-Japan Economic Relations: Significance, Prospects, and Policy Options [December 5, 2011]

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  "Japan and the United States are the two largest economic powers. Together they account for over 30% of world domestic product, for a significant portion of international trade in goods and services, and for a major portion of international investment. This economic clout makes the United States and Japan potentially powerful actors in the world economy. Economic conditions in the United States and Japan have a significant impact on the rest of the world. Furthermore, the U.S.-Japan bilateral economic relationship can influence economic conditions in other countries. The U.S.-Japan economic relationship is very strong and mutually advantageous. The two economies are highly integrated via trade in goods and services--they are large markets for each other's exports and important sources of imports. […] More generally, other issues regarding U.S.-Japan economic relations may emerge on the agenda of the 112th Congress. U.S. and Japanese leaders have several options on how to manage their relationship, including stronger reliance on the World Trade Organization; special bilateral negotiating frameworks and agreements; or a free trade agreement. On November 11, 2011, Prime Minister Noda announced at a press conference that he decided, after many consultations with potentially affected parties, that '[Japan would] enter into consultations toward participating in the TPP [Trans-Pacific Partnership] negotiations with the countries concerned on the occasion of the [November 12-13, 2011] APEC [Asian-Pacific Economic Cooperation] Economic Leaders meeting in Honolulu, Hawaii....' Japan's participation in the TPP will likely be the focal point of U.S.-Japan economic discussion for the foreseeable future."

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-

  2011-12-05
• Vietnam PNTR Status and WTO Accession: Issues and Implications for the United States [December 15, 2006]

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  "On December 8, 2006, the House passed legislation (212-184) to grant Vietnam permanent normal trade relations (PNTR) status as part of a more comprehensive trade bill (H.R. 6406). Pursuant to H.Res. 1100, the bill was then coupled with a tax-extension bill (H.R. 6111) and sent to the Senate. The Senate passed the combined bills on December 8 (79-9). Before PNTR can go into effect the President must sign the legislation into law, make a determination that Vietnam is eligible to receive it, and then issue a proclamation to that effect. […] It could help the United States in that Vietnam would be obligated to apply WTO [World Trade Organization] rules in its trade. PNTR status from the United States would provide Vietnam more predictability its growing trade relations with the United States and would shed a legacy of the cold war. For the United States, PNTR would be another in a series of steps the United States has taken in trade and foreign policy to normalize relations with Vietnam and place distance between current relations and the Vietnam War. During the congressional debate on PNTR Members raised issues regarding the conditions for Vietnam's entry into the WTO, other issues pertaining to the U.S.- Vietnam economic relationship, and other aspects of the overall U.S.-Vietnam relationship."

  Library of Congress. Congressional Research Service

  Manyin, Mark E.; Cooper, William H., 1949-; Gelb, Bernard A.

  2006-12-15
• U.S.-Japan Economic Relations: Significance, Prospects, and Policy Options [May 29, 2012]

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  "Japan and the United States are the two largest economic powers. Together they account for over 30% of world domestic product, for a significant portion of international trade in goods and services, and for a major portion of international investment. This economic clout makes the United States and Japan potentially powerful actors in the world economy. Economic conditions in the United States and Japan have a significant impact on the rest of the world. Furthermore, the U.S.-Japan bilateral economic relationship can influence economic conditions in other countries. The U.S.-Japan economic relationship is very strong and mutually advantageous. The two economies are highly integrated via trade in goods and services--they are large markets for each other's exports and important sources of imports. More importantly, Japan and the United States are closely connected via capital flows. Japan is a major foreign source of financing of the U.S. national debt and will likely remain so for the foreseeable future, as the mounting U.S. debt needs to be financed and the stock of U.S. domestic savings remains insufficient to meet the demand. Japan is also a significant source of foreign private portfolio and direct investment in the United States, and the United States is the origin of much of the foreign investment in Japan."

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-

  2012-05-29
• U.S.-South Korea Free Trade Agreement (KORUS FTA): Provisions and Implications [November 30, 2011]

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  "On October 3, 2011, President Obama submitted draft legislation (H.R. 3080/S. 1642) to implement the U.S.-South Korea Free Trade Agreement (KORUS FTA) to both houses of Congress. [...] In South Korea, after a contentious battle, the Korean National Assembly passed the agreement on November 22. It is expected to enter into force in early 2012. The KORUS FTA is the second-largest U.S. FTA (next to NAFTA). South Korea is the seventhlargest trading partner of the United States, and the United States is South Korea's third-largest trading partner. [...] On December 3, 2010, after a series of arduous negotiations, President Obama and President Lee announced that they had reached an agreement on addressing the outstanding issues related to the KORUS FTA. As a result, U.S. and South Korean negotiators agreed, in the form of an exchange of letters and agreed minutes, to modifications to the commitments made in the 2007 agreement. These modifications included changes in phase-out periods for tariffs on autos, a new safeguard provision on autos, and concessions by South Korea on allowing a larger number of U.S. cars into South Korea under U.S. safety standards than was the case under the original KORUS FTA provisions. [...] A broad swath of the U.S. business community supported the KORUS FTA . With the modifications in the commitments reached in December, this group also included the three Detroit-based auto manufacturers and the United Auto Workers (UAW) union. It still faced opposition from some labor unions and other groups, including Public Citizen. Many U.S. supporters view the KORUS FTA as important to secure new opportunities in the South Korean market, while opponents claim that the KORUS FTA does not go far enough to break down South Korean trade barriers or that the agreement will encourage U.S. companies to move their production offshore at the expense of U.S. workers. Other observers suggested the KORUS FTA could have implications for the U.S.-South Korean alliance as a whole, as well as on U.S. Asia policy and U.S. trade policy."

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-; Manyin, Mark E.; Jurenas, Remy

  2011-11-30
• U.S.-Japan Economic Relations: Significance, Prospects, and Policy Options [February 14, 2012]

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  "The 'relative' significance of Japan and the United States as each other's economic partner has diminished with the rise of China as an economic power. For example, China has overtaken Japan and is the largest source of foreign financing of the U.S. national debt. In addition, U.S. economic ties with Canada, Mexico, and China have deepened, further eroding the direct relevance of Japan. Nevertheless, analyses of trade and other economic data suggest that the bilateral relationship remains important, and policy leaders of both countries face the challenge of how to manage it. During the last decade policy leaders seem to have made a deliberate effort to drastically reduce the friction that prevailed in the economic relationship. On the one hand, this calmer environment has stabilized the bilateral relationship and permitted the two countries to focus their attention on other issues of mutual interest, such as national security. On the other hand, as some have argued, the friendlier environment masks serious problems that require more attention, such as continuing Japanese failure to resolve long-standing market access barriers to U.S. exports. Failure to resolve any of these outstanding issues could cause heightened friction between the two countries. More generally, other issues regarding U.S.-Japan economic relations may emerge on the agenda of the 112th Congress. U.S. and Japanese leaders have several options on how to manage their relationship, including stronger reliance on the World Trade Organization; special bilateral negotiating frameworks and agreements; or a free trade agreement. On November 11, 2011, Prime Minister Noda announced at a press conference that he decided, after many consultations with potentially affected parties, that '[Japan would] enter into consultations toward participating in the TPP [Trans-Pacific Partnership] negotiations with the countries concerned on the occasion of the [November 12-13, 2011] APEC [Asia-Pacific Economic Cooperation] Economic Leaders meeting in Honolulu, Hawaii.' Japan's participation in the TPP will likely be the focal point of U.S.-Japan economic discussion for the foreseeable future."

  Library of Congress. Congressional Research Service

  Cooper, William H., 1949-

  2012-02-14