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• 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 Adjustment Assistance (TAA) and Its Role in U.S. Trade Policy [January 9, 2013]

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  "Congress created Trade Adjustment Assistance (TAA) in the Trade Expansion Act of 1962 to help workers and firms adjust to dislocation that may be caused by increased trade liberalization. It is justified now, as it was then, on grounds that the government has an obligation to help the 'losers' of policy-driven trade opening. In addition, TAA is presented as an alternative to policies that would restrict imports, and so provides assistance while bolstering freer trade and diminishing prospects for potentially costly tension (retaliation) among trade partners. As in the past, critics strongly debate the merits of TAA on equity, efficiency, and budgetary grounds. Nonetheless, finding agreement on TAA remains important for forging a compromise on national trade policy. This report discusses the role of TAA in U.S. trade policy from its inception as a legislative option in the early 1950s to its core role as a cornerstone of modern trade policy that many argue has served to promote the long-term U.S. trade liberalization agenda."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2013-01-09
• 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): 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 Adjustment Assistance (TAA) and Its Role in U.S. Trade Policy [October 7, 2011]

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  "Congress created Trade Adjustment Assistance (TAA) in the Trade Expansion Act of 1962 to help workers and firms adjust to dislocation that may be caused by increased trade liberalization. It is justified now, as it was then, on grounds that the government has an obligation to help the 'losers' of policy-driven trade liberalization. In addition, TAA is presented as an alternative to policies that would restrict imports, and so provides assistance while bolstering freer trade and diminishing prospects for potentially costly tension (retaliation) among trade partners. As in the past, critics strongly debate the merits of TAA on equity, efficiency, and budgetary grounds. Nonetheless, TAA still appears to serve what is now a historically pragmatic legislative function: it remains important for forging a compromise on national trade policy. […] On September 22, 2011, the Senate agreed to the amended bill, 70-27, after which it was sent to the House. In separate action, the House Ways and Means Committee favorably reported out all three FTA [free trade agreement] implementing bills on October 3, 2011. On October 6, 2011, the House Committee on Rules issued a closed rule covering all four bills. Senate amendment to H.R. 2832 is expected to be taken up by the House on October 12, 2011, along with implementing bills for the three FTAs. H.R. 2832, as amended, will be considered under a rule that waives all points of order and allows for one hour of debate. The bill requires simple majority to pass, and having already been agreed to in the Senate, House passage would then allow it to be sent to the President for signature."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Rover, Laine Elise

  2011-10-07
• 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
• Trade Adjustment Assistance for Firms: Economic, Program, and Policy Issues [February 4, 2008]

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  "Economists generally agree that trade liberalization enhances the economic welfare of all trade partners, but in compelling firms and workers to face stiffer global competition, can also cause adjustment problems. Congress has responded by authorizing three programs to assist trade-impacted workers, firms, and farmers. This report focuses on the trade adjustment assistance (TAA) program for firms, which provides technical assistance to trade-affected firms to help them develop strategies to remain competitive in the changing international economy. TAA program authorization lapsed on October 1, 2007 and was operating under a temporary extension through December 31, 2007. The House has passed a second three-month extension and a new five-year reauthorization bill. Neither bill has been passed in the Senate. This report will be updated periodically."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2008-02-04
• Trade Adjustment Assistance for Firms: Economic Program, and Policy Issues [October 2, 2007]

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  "Although free trade provides benefits to all trading partners, reducing barriers to trade forces firms and workers in all countries to adjust to stiffer global competition. For some, the adjustment process can be difficult and Congress, in recognizing this problem, has authorized three programs to assist trade-impacted firms, farmers, and workers. This report focuses on the trade adjustment assistance (TAA) program for firms, which provides technical assistance to help them develop strategies to remain competitive in the changing international economy. The TAA for firms program was reauthorized through FY2007 at $16 million per year and extended on a pro rated basis through December 2007 by P.L. 110-89. This report will be updated periodically."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2007-10-02
• Trade Adjustment Assistance (TAA) and Its Role in U.S. Trade Policy [November 2, 2011]

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  "When Congress passed the Reciprocal Trade Agreements Act (RTAA) of 1934, it reflected an important transition in national trade policy away from 'protectionism' toward greater 'trade liberalization.' This shift continues to be the dominant, but hardly uncontested, trade policy of the United States. The substantial national gains from trade have long been recognized, yet trade liberalizing legislation often faces strong political opposition because related costs, although much smaller, affect a vocal and concentrated constituency. Congress first addressed this inherent tension with legislation that allowed higher tariffs and other trade barriers to be reimposed when domestic industries were threatened or hurt by imports. In 1962, however, Congress adopted an additional approach by providing trade adjustment assistance (TAA) directly to trade-affected firms and workers. It remains a much-debated, but enduring pillar of U.S. trade policy today. This report discusses the role of TAA in U.S. trade policy, from its inception as a legislative option in the early 1950s, to its core role as a cornerstone of modern trade policy that many argue has served to promote the long-term U.S. trade liberalization agenda. It will also consider the extent to which TAA has been linked to both renewal of trade agreements authority and trade agreement implementing legislation. This includes the most recent action taken on TAA in the 112th Congress as part of a grand trade bargain that included passage of implementing bills for free trade agreements (FTAs) with Colombia, Panama, and South Korea. Understanding the origins of TAA, the historical congressional debate, and legislative options considered by Congress over the past 50 years may help inform the recurring discussion of TAA reauthorization."

  Library of Congress. Congressional Research Service

  Rover, Laine Elise; Hornbeck, J. F. (John F.)

  2011-11-02
• Trade Adjustment Assistance (TAA) and Its Role in U.S. Trade Policy [Augusts 11, 2011]

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  "Congress created Trade Adjustment Assistance (TAA) in the Trade Expansion Act of 1962 to help workers and firms adjust to economic dislocation caused by trade liberalization. Although most economists agree that there are substantial national gains from trade, supporters of TAA argue that the government has an obligation to help those hurt by policy-driven trade opening. In addition, as an alternative to policies that might otherwise restrict imports, it can provide assistance, while supporting freer trade. Often controversial, it is still strongly debated some 50 years later on equity, efficiency, and budgetary grounds. Despite disagreement, TAA still appears to be important for forging a compromise on national trade policy. Nonetheless, the legislative fortunes of TAA have ebbed and flowed. When TAA remained a cornerstone of major trade legislation as it was in 1962, 1974, and 2002, it received long reauthorizations and increased programmatic and funding support from Congress. When isolated from its main policy rationale, as was the case at times during the budget-cutting 1980s, TAA sometimes struggled to achieve short-term extensions and maintain funding levels when faced with strong political opposition. TAA was most recently expanded in the American Recovery and Reinvestment Act (ARRA) of 2009, although the higher funding levels and program enhancements expired in February 2011, leaving TAA programs to operate at pre-ARRA levels until 2012, when all TAA program authorizations are scheduled to expire. The 112th Congress is considering legislative action to extend TAA."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Rover, Laine Elise

  2011-08-11
• 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
• Trade Adjustment Assistance for Firms: Economic, Program, and Policy Issues [October 30, 2007]

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  "Although free trade provides benefits to all trading partners, reducing barriers to trade forces firms and workers in all countries to adjust to stiffer global competition. For some, the adjustment process can be difficult and Congress, in recognizing this problem, has authorized three programs to assist trade-impacted firms, farmers, and workers. This report focuses on the trade adjustment assistance (TAA) program for firms, which provides technical assistance to help them develop strategies to remain competitive in the changing international economy. The TAA for firms program was reauthorized through FY2007 at $16 million per year and extended on a pro rated basis through December 2007 by P.L. 110-89. This report will be updated periodically."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2007-10-30
• Trade Preferences: Economic Issues and Policy Options [February 24, 2011]

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  "Since 1974, Congress has created multiple trade preference programs designed to foster economic growth and development in less developed countries. These programs give temporary, non-reciprocal, duty-free U.S. market access to select exports of eligible countries. Congress conducts regular oversight of these programs, often revising and extending them. The 112th Congress may consider two major issues relating to trade preference programs: (1) the expiration of the Generalized System of Preferences (GSP) on December 31, 2010; and (2) continued extension of the Andean Trade Preference Act beyond February 12, 2010. The 112th Congress may also consider broader reform of the preference programs based on comprehensive reviews in hearings held in both the House and the Senate in the 111th Congress."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles; Hornbeck, J. F. (John F.); Jones, Vivian Catherine

  2011-02-24
• Trade Preferences: Economic Issues and Policy Options [January 10, 2013]

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  "Since 1974, Congress has created multiple trade preference programs designed to foster economic growth, reform, and development in less developed countries. These programs give temporary, non-reciprocal, duty-free U.S. market access to select exports of eligible countries. Congress has repeatedly revised and extended these programs. The112th Congress passed extensions to three trade preference programs: (1) the Generalized System of Preferences (GSP) which expired on December 31, 2010 and was renewed retroactively from that date to July 31, 2013 (P.L. [Public Law] 112-40); (2) the Andean Trade Preference Act (ATPA) for Colombia and Ecuador until July 31, 2013 (P.L. 112-42); and (3) a 'third-country fabric' provision in the African Growth and Opportunity Act (AGOA) until September 30, 2015 (P.L. 112-163). Since the GSP and ATPA programs were only extended until the end of July 2013, Congress may consider further renewal of these programs in the first session of the 113th Congress, along with possible trade preference reform options. Three bills in the 112th Congress, S. 105, S. 1244, and H.R. [House Resolution] 2387, propose a new trade preference program that would provide duty-free and reduced tariff treatment for certain apparel from the Philippines. Other bills in the 112th Congress proposing preference programs include S. 1443, which would provide trade preferences for selected Asian and South Pacific countries."

  Library of Congress. Congressional Research Service

  Jones, Vivian Catherine; Hornbeck, J. F. (John F.); Villarreal, M. Angeles

  2013-01-10
• Trade Preferences: Economic Issues and Policy Options [November 14, 2012]

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  "Since 1974, Congress has created multiple trade preference programs designed to foster economic growth, reform, and development in less developed countries. These programs give temporary, non-reciprocal, duty-free U.S. market access to select exports of eligible countries. Congress has repeatedly revised and extended these programs. The 112th Congress passed extensions to three trade preference programs: (1) the Generalized System of Preferences (GSP) which expired on December 31, 2010 and was renewed retroactively from that date to July 31, 2013 (P.L. 112-40); (2) the Andean Trade Preference Act (ATPA) for Colombia and Ecuador until July 31, 2013 (P.L. 112-42); and (3) a 'third-country fabric' provision in the African Growth and Opportunity Act (AGOA) until September 30, 2015 (P.L. 112-163). Since the GSP and ATPA programs were only extended until the end of July 2013, Congress may consider further renewal of these programs in the first session of the 113th Congress, along with possible trade preference reform options. Three bills in the 112th Congress, S. 105, S. 1244, and H.R. 2387, propose a new trade preference program that would provide duty-free and reduced tariff treatment for certain apparel from the Philippines. Other bills in the 112th Congress proposing preference programs include S. 1443, which would provide trade preferences for selected Asian and South Pacific countries. […] This report discusses the major U.S. trade preference programs, their possible economic effects, stakeholder interests, and legislative options."

  Library of Congress. Congressional Research Service

  Jones, Vivian Catherine; Hornbeck, J. F. (John F.); Villarreal, M. Angeles

  2012-11-14
• Trade Promotion Authority (TPA) and the Role of Congress in Trade Policy [April 7, 2011]

  Show summary     Open resource [pdf]     (open full abstract)

  "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 Adjustment Assistance (TAA) and Its Role in U.S. Trade Policy [August 5, 2013]

  Show summary     Open resource [pdf]     (open full abstract)

  "When Congress passed the Reciprocal Trade Agreements Act (RTAA) of 1934, it reflected an important transition in national trade policy away from 'protectionism' toward greater 'trade liberalization.' This shift continues to be the dominant, but hardly uncontested, trade policy of the United States. The substantial national gains from trade have long been recognized, yet trade liberalizing legislation often faces strong political opposition because related costs, although much smaller, affect a vocal and concentrated constituency. Congress first addressed this inherent tension with legislation that allowed higher tariffs and other trade barriers to be reimposed when domestic industries were threatened or hurt by imports. In 1962, however, Congress adopted an additional approach by providing trade adjustment assistance (TAA) directly to trade-affected firms and workers. It remains a much-debated, but enduring pillar of U.S. trade policy today. TAA program authorizations are scheduled to expire on December 31, 2013, and the Trade Adjustment Assistance Extension Act of 2013 (S. 1357) would extend them through 2020. President Obama also has supported TAA reauthorization, linking it to renewal of Trade Promotion Authority (TPA). This report discusses the role of TAA in U.S. trade policy, from its inception as a legislative option in the early 1950s, to its core role as a cornerstone of modern trade policy that many argue has served to promote the long-term U.S. trade liberalization agenda. It will also consider the extent to which TAA has been linked to both renewal of trade agreements authority (now TPA) and trade agreement implementing legislation. Understanding the origins of TAA, the historical economic and congressional debate, and legislative options considered by Congress over the past 50 years may help inform the recurring discussion on TAA reauthorization."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2013-08-05
• Trade Adjustment Assistance (TAA) and Its Role in U.S. Trade Policy [July 20, 2011]

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  "Congress created Trade Adjustment Assistance (TAA) in the Trade Expansion Act of 1962 to help workers and firms adjust to economic dislocation that may be caused by trade liberalization. Although most economists agree that there are substantial national gains from trade, backers of TAA argue that the government has an obligation to help those hurt by policy-driven trade opening. In addition, as an alternative to policies that might otherwise restrict imports, it can provide assistance, while supporting freer trade and diminishing prospects for potentially costly tension (retaliation) among trade partners. Often controversial, it is still strongly debated some 50 years later, on equity, efficiency, and budgetary grounds, but may still serve a pragmatic legislative function. For those Members concerned with the negative effects of trade, it can provide a countervailing response to help maintain what is often slim majority support of highly contested trade legislation. For these reasons, it has been central to U.S. trade policy for the past half century. […] Opponents of TAA consider it a costly and ineffective response to dislocation from imports, and so would like to see it debated and voted on as a separate bill. Supporters of TAA and especially the extended The American Recovery and The investment Act (ARRA) benefits (now lapsed) see the implementing bill as perhaps the best, if not only opportunity, to reauthorize TAA in the near future, given resistance in a Congress intently focused on deficit reduction. Those supporting TAA and not the U.S.-South Korea (KORUS) Free Trade Agreement (FTA) might also prefer to see separate votes on the two issues."

  Library of Congress. Congressional Research Service

  Rover, Laine Elise; Hornbeck, J. F. (John F.)

  2011-07-20
• Trade Adjustment Assistance for Firms: Economic, Program, and Policy Issues [Updated January 18, 2008]

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  "Economists generally agree that trade enhances the economic welfare of all trading partners, but in compelling firms and workers to face stiffer global competition, can also cause adjustment problems. Congress has responded by authorizing three programs to assist trade-impacted workers, firms, and farmers. This report focuses on the trade adjustment assistance (TAA) program for firms, which provides technical assistance to trade-affected firms to help them develop strategies to remain competitive in the changing international economy. The program authorization lapsed on October 1, 2007 and is operating under a temporary extension through December 31, 2007. The House has passed a second three-month extension and a new five-year reauthorization bill. The Senate did not pass either bill before adjourning. This report will be updated periodically."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2008-01-18
• Trade Primer: Qs and As on Trade Concepts, Performance, and Policy [April 16, 2012]

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  "The 112th Congress has a full legislative and oversight agenda on international trade. The agenda so far has included approval of legislation to implement free trade agreements with Colombia, Panama, and South Korea, and may take up enhanced enforcement of U.S. trade agreements, as well as Russia's accession to the World Trade Organization (WTO) and Permanent Normal Trade Relations (PNTR) status, oversight of the World Trade Organization's Doha Round, and trade relations with China. This report provides information and context for many of these topics. It is intended to assist 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

  Hornbeck, J. F. (John F.)

  2012-04-16
• U.S.-Latin America Trade: Recent Trends and Policy Issues [Updated September 3, 2009]

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  "Trade is one of the more enduring issues in contemporary U.S.-Latin America relations. Latin America is far from the largest U.S. regional trade partner, but it is the fastest growing one, with the current exception of Africa, which has had strong export growth based largely on the rise of petroleum prices through mid-2008. Latin American countries have made noted progress in trade liberalization, reducing tariffs significantly and entering into their own regional agreements over the past two decades, although the pace has slowed of late."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2009-09-03
• U.S.-Latin American Trade: Recent Trends [Updated January 2, 2008]

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  "Since Congress passed Trade Promotion Authority (TPA) legislation in August 2002 (P.L. 107-210), the United States has entered into free trade agreements (FTAs) with Chile, the Dominican Republic, and Central American countries, and Peru. The United States has also concluded FTAs with Colombia and Panama, which await congressional action. Talks on the region-wide Free Trade Area of the Americas (FTAA), by contrast, have stalled. The 110th Congress may consider implementing legislation for one or both of the pending bilateral agreements. This report provides an analytical overview of U.S.-Latin American trade data and trends in support of congressional interest in U.S.-Latin American trade relations. It will be updated. Trade is one of the driving issues in contemporary U.S.-Latin America relations. Although not the largest, Latin America is the fastest growing U.S. regional trade partner, with the exception of Africa, which has had strong export growth based largely on the recent rise of petroleum prices. Between 1996 and 2006, total U.S. merchandise trade (exports plus imports) with Latin America grew by 118% compared to 96% for Asia (driven largely by China), 95% for the European Union, 239% for Africa, and 104% for the world. There are two import caveats. First, most of the growth in Latin American trade was due to Mexico, the largest U.S. regional trade partner in dollar terms. Second, U.S. imports grew more than twice as fast as exports."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2008-01-02
• U.S.-Latin America Trade: Recent Trends [July 18, 2008]

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  "After Congress passed Trade Promotion Authority (TPA) legislation in August 2002 (P.L. 107-210), the United States implemented free trade agreements (FTAs) with Chile, the Dominican Republic, the Central American countries, and Peru. The United States has also concluded FTAs with Colombia and Panama, which await congressional action. Talks on the region-wide Free Trade Area of the Americas (FTAA), by contrast, have stalled. The 110th Congress may consider implementing legislation for one or both of the pending bilateral agreements. This report provides an analytical overview of U.S.-Latin American trade data and trends in support of congressional interest in U.S.- Latin American trade relations. It will be updated."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.); Cid, Marisabel

  2008-07-18
• U.S.-Panama Free Trade Agreement [November 8, 2012]

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  "On June 28, 2007, the United States and Panama signed a free trade agreement (FTA) after two and a half years and 10 rounds of negotiations. Negotiations formally concluded on December 16, 2006, with an understanding that changes to labor, environment, and intellectual property rights chapters would be made pursuant to future congressional input. These changes were agreed to and the FTA was signed in time to be considered under Trade Promotion Authority (TPA) legislation, which expired on July 1, 2007. TPA allows Congress to consider certain trade agreement implementing bills under expedited procedures. Panama's legislature ratified the FTA 58 to 4 on July 11, 2007, but neither the 110th nor the 111th Congress took up the agreement. Eventually, the 112th Congress considered the FTA implementing bill. On July 7, 2011, the House Ways and Means and Senate Finance Committees held simultaneous 'mock markups,' where they informally approved draft implementing bills. On October 3, 2011, the Obama Administration transmitted final implementing legislation and supporting documents to both houses, as required under TPA. Following committee action, on October 12, 2011, the House agreed to the implementing bill (H.R. 3079) 300-129, followed by the Senate 77-22. President Obama signed the implementing bill into law on October 21, 2011 (P.L. 112-43, 125 Stat. 427), but the FTA would not enter into force for another year. Panama required that time to complete changes in law necessary to bring it into compliance with the provisions of the FTA. On October 22, 2012, the United States Trade Representative (USTR) exchanged notes with Panama providing for entry into force of the FTA. President Obama implemented the agreement by proclamation on October 29, 2012, and the FTA entered into force on October 31, 2012."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2012-11-08
• U.S.-Panama Free Trade Agreement [April 26, 2012]

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  "On June 28, 2007, the United States and Panama signed a reciprocal free trade agreement (FTA) after two and a half years and 10 rounds of negotiations. Negotiations formally concluded on December 16, 2006, with an understanding that changes to labor, environment, and intellectual property rights chapters would be made pursuant to future congressional input. These changes were agreed to and the FTA was signed in time to be considered under Trade Promotion Authority (TPA) legislation, which expired on July 1, 2007. TPA allows Congress to consider certain trade implementing bills under expedited procedures. Panama's legislature ratified the FTA 58 to 4 on July 11, 2007 (see Appendix A for Chronology of U.S.-Panama FTA Milestones). Neither the 110th nor the 111th Congress took up the agreement. The U.S. Congress did not consider implementing legislation for over four years after the FTA was signed, an unprecedented delay reflecting multiple concerns of Congress (see below). Eventually, the 112th Congress took up the free trade agreement when congressional leaders and the Obama Administration came to an understanding on how to proceed. On July 7, 2011, the House Ways and Means and Senate Finance Committees both held simultaneous 'mock markups,' where they informally approved draft implementing bills. On October 3, 2011, the Obama Administration transmitted to both houses of Congress final implementing legislation and supporting documents, as required under TPA. Following committee action, on October 12, 2011, the House agreed to the implementing bill (H.R. 3079) 300-129, followed by the Senate 77- 22. President Obama signed the bill into law on October 21, 2011 (P.L. 112-43, 125 Stat. 427). The FTA enters into force by presidential proclamation when Panama completes all legal and regulatory changes required to meet the obligations of the agreement."

  Library of Congress. Congressional Research Service

  Hornbeck, J. F. (John F.)

  2012-04-26