United States Omnibus Trade And Competitiveness Act

United States Omnibus Trade and Competitiveness Act in Global Commerce Policy

In this regard, united states omnibus trade and competitiveness act is: a trade bill passed by Congress in 1988 after three years of bargaining and deliberations. With 467 pages, it was by far the largest trade act ever, 15 times longer than the Trade Expansion Act of 1962 which made possible American participation in the Kennedy Round. The Act gave the President fast-track negotiating authority for the Uruguay Round negotiations until 1 June 1991 when the Round was intended to be well and truly over. The entries on trade policy are here. It also instructed USTR to launch market-opening actions on behalf of many domestic industries, partly through the use of the newly- drafted Super 301. The entries on trade policy are here. Another new provision, Special 301, deals particularly with the protection by other countries of United States-owned intellectual property rights. The Act also requires regular reports on the observance of workers rights by others. The role of USTR itself was strengthened through giving it the power to decide which foreign countries were behaving unfairly and to recommend the appropriate remedy. Previously USTR had only been able to make recommendations to the President. The entries on trade policy are here. In May 19991, the fast-track negotiating authority was renewed until 1 June 1993. Progress in the Uruguay Round negotiations required a further extension, and 15 December 1993 became the definitive deadline for negotiations. See also mandatory but not compulsory and priority foreign country.[1]

United States Omnibus Trade and Competitiveness Actin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “United States Omnibus Trade and Competitiveness Act” entry (OAS)

See Also