Trade Negotiations During the 110th Congress (CRS Report for Congress)
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| Release Date |
Revised Oct. 21, 2008 |
| Report Number |
RL33463 |
| Report Type |
Report |
| Authors |
Ian F. Fergusson, Foreign Affairs, Defense, and Trade Division |
| Source Agency |
Congressional Research Service |
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Summary:
The Bush Administration has made bilateral and regional free-trade agreements (FTAs) an important element of U.S. trade policy, a strategy known as "competitive liberalization." This strategy, it argues, will push forward trade liberalization simultaneously on bilateral, regional, and multilateral fronts. It is meant to spur trade negotiations by liberalizing trade with countries willing to join FTAs, and to pressure other countries to negotiate multilaterally. Critics contend, however, that the accent on regional and bilateral negotiations undermines the multilateral forum and increases the risk of trade diversion away from competitive countries not in the trade bloc. On May 10, 2007, Congressional leaders and the Bush Administration announced a conceptual agreement on changes to currently notified free trade agreements (FTA).
Negotiations have been concluded with Peru, Colombia, Panama, and South Korea in time to be considered by Congress under U.S. trade promotion authority. Legislation to implement the Peru FTA was approved by Congress and signed into law by the President on December 14, 2007 (P.L. 110-138). Legislation to implement the Colombia FTA was introduced in each chamber under TPA rules on April 8, 2008 (H.R. 5724, S. 2830). On April 10, the House voted to suspend TPA rules with regard to this agreement (H.Res. 1092). Several other trade initiatives are under discussion, including a U.S.-Middle East FTA and negotiations with countries in the âP-4' group (Chile, New Zealand, Singapore, Brunei). Legislation to implement the Central American-Dominican Republic Free Trade Agreement (CAFTA-DR) and FTAs with Bahrain and Oman were approved by the 109th Congress.
The broadest trade initiative being negotiated is the Doha Round of multilateral trade negotiations in the World Trade Organization (WTO). In November 2001, trade ministers from WTO member countries agreed to launch a new round of trade talks covering market access, trade remedies, and developing-country issues. Nearly seven years of negotiations have occurred since then without a breakthrough on âmodalities,' the methods and formulas by which negotiations are conducted, with the recent Geneva negotiating Ministerial conducted between July 21 and 29 likewise failing to reach agreement. In September 2008, the United States entered into negotiations with the Trans-Pacific Strategic Economic Partnership (P-4) countries of Brunei, Chile, Singapore, and New Zealand for a common FTA.
U.S. trade promotion authority (TPA) expired on July 1, 2007. Potential agreements resulting from current trade negotiations (Colombia, Panama, and South Korea) may be considered by Congress under TPA legislation enacted in 2002. Under the legislation, if the President meets notification requirements and other conditions, Congress will consider a bill to implement a trade agreement under an expedited procedure (no amendment, deadlines for votes). The notification requirements include minimum 90-day notices before starting negotiations and before signing a trade agreement. However, TPA governs internal rules of each chamber and may be altered by each chamber at any time.
