Trade Agreements Authority Act of 1995

Summary

Trade Agreements Authority Act of 1995 - Declares that the negotiating objectives of the United States with respect to trade agreements with foreign countries are to: (1) obtain more open, equitable, and reciprocal market access; (2) obtain reduction or elimination of barriers and other trade-distorting policies and practices; (3) further strengthen the system of international trading disciplines and procedures; (4) foster economic growth and full employment in the United States and the global economy; and (5) develop, strengthen, and clarify rules and disciplines on restrictive or trade-distorting import and export practices. (Sec. 2) Declares that the principal negotiating objectives of the United States regarding specific trade barriers and other trade distortions are to expand competitive market opportunities for U.S. exports and to obtain more open and fair conditions of trade by reducing or eliminating specific tariff and nontariff trade barriers. Sets forth such negotiating objectives with respect to: (1) trade in services; (2) foreign direct investment; (3) intellectual property; and (4) transparency. Requires the President in determining whether to enter into negotiations with a particular country to take into account whether such country has implemented its obligations under the Uruguay Round Agreements. (Sec. 3) Authorizes the President, whenever existing foreign or U.S. duties or import restrictions are unduly burdening and restricting U.S. foreign trade, to enter into trade agreements with foreign countries (through December 15, 1999, or through December 15, 2001, if trade authorities procedures are extended) and proclaim, subject to specified limitations, modification or continuance of any existing duty or existing duty-free treatment, or additional duties. Authorizes the President to enter into bilateral or multilateral trade agreements to reduce, eliminate, or prohibit any unfair duty, restriction, or barrier whenever such duty, restriction, or barrier: (1) unduly burdens or restricts U.S. foreign trade or adversely affects the U.S. economy; or (2) is likely to result in such a burden, restriction, or effect. Prescribes procedures for congressional disapproval of a presidential request for extension of the trade authorities procedures to bills implementing trade agreements. (Sec. 4) Requires the President to: (1) notify, and consult with, the Congress before initiating trade negotiations or entering into any trade agreement; and (2) submit implementing bills to the Congress before any trade agreement can take effect. Waives such notification and consultation requirements with respect to: (1) an agreement directly related to the principal negotiating objectives of the Uruguay Round Implementation Act, if negotiations commenced before enactment of this Act; and (2) an agreement providing for the accession of Chile to the North American Free Trade Agreement (NAFTA).

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Documents

4 official files

• Reported to House amended, Part I

  summary · EN · 20 October 1995

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• Introduced in House (text)

  Introduced in House · EN · 21 September 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 21 September 1995

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• Introduced in House

  summary · EN · 21 September 1995

  Open at official source

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