Trade Promotion Authority
Trade Promotion Authority in Global Commerce Policy
In this regard, a definition of this issue is as follows: the name adopted in 2001 and signed into law on 6 August 2002 through the Trade Act of 2002 for the negotiating authority given by the United States Congress to the President which had been known as fast-track timetable. The Trade Promotion Authority applies to all trade agreements negotiated by the United States between its entry into force and its expiry. The entries on trade policy are here. It has the following overall trade negotiating objectives: (1) more open, equitable, and reciprocal market access, (2) reduction or elimination of trade barriers, (3) strengthening the international trading system, (4) to achieve faster economic growth, raising living standards and promote full employment, (5) trade and environmental policies to be mutually supportive, (6) promote respect for workers rights and the rights of children, (7) provisions against weakening protections given to environmental and labour laws as an encouragement for trade, (8) benefits for small businesses, and (9) promote universal ratification of and full compliance with the Convention Concerning the Prohibition and Immediate Action for the Elimination of the Worst Forms of Child Labour adopted in the International Labour Organization (ILO Convention No 182). The Trade Promotion Authority will expire on 30 June 2005, but it may be extended until 1 July 2007 if the President seeks an extension and neither House of Congress opposes it.[1]
Trade Promotion Authorityin the wold Encyclopedia
For an introductory overview on international trade policy, see this entry.
Resources
Notes and References
- Dictionary of Trade Policy, “Trade Promotion Authority” entry (OAS)
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