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Trade Adjustment Assistance (TAA) and Its Role in U.S. Trade Policy
This report looks at the background of Trade Adjustment Assistance (TAA) in the Trade Expansion Act of 1962, which was created by Congress. It then discusses how the 112th Congress is considering legislative action to extend the TAA - including two issues: how necessary or appropriate the extension is, and whether or not three proposed bills should be voted upon separately.
Trade Adjustment Assistance (TAA) and Its Role in U.S. Trade Policy
This report covers the origin and history of the Trade Adjustment Assistance (TAA), created by Congress in the Trade Expansion Act of 1962 to help workers and firms adjust to economic dislocation that may be caused by trade liberalization. The report also covers Congressional disagreements over the effectiveness of TAA, and whether it should be renewed when it expires in February 2012.
The Trans-Pacific Partnership Negotiations and Issues for Congress
Report that examines the issues related to the proposed Trans-Pacific Partnership (TPP), the state and substance of the negotiations (to the degree that the information is publicly available), the specific areas under negotiation, the policy and economic contexts in which the TPP would fit, and the issues for Congress that the TPP presents.
Trade Agreements: Impact on the U.S. Economy
This report examines the major features of economic models being used to estimate the effects of trade agreements. It assesses the strengths and weaknesses of the models as an aid in helping Congress evaluate the economic impact of trade agreements on the U.S. economy.
Trade Promotion Authority (TPA): Frequently Asked Questions
The issue of TPA reauthorization raises a number of questions regarding TPA itself and the pending legislation. This report addresses a number of those questions that are frequently asked, including the following: What is trade promotion authority? Is TPA necessary? What are trade negotiating objectives and how are they reflected in TPA statutes? What requirements does Congress impose on the President under TPA? Does TPA affect congressional authority on trade policy?
Permanent Normal Trade Relations (PNTR) Status for Russia and U.S.-Russian Economic Ties
Granting Russia permanent normal trade relations (PNTR) status requires a change in law because Russia is prohibited from receiving unconditional and permanent NTR under Title IV of the Trade Act of 1974. This provision includes the so-called Jackson-Vanik amendment. Extension of PNTR has implications for Russia's accession to the World Trade Organization (WTO). This report examines this legislative issue in the context of Russian accession to the WTO and U.S.-Russian economic ties.
Tariff Modifications: Miscellaneous Tariff Bills
This report discusses the current process by which duty suspension bills and other provisions are introduced, reviewed by several government agencies and committee staff, made available for public comment, and finally included in omnibus miscellaneous trade and technical corrections bills (MTBs) legislation reported out by the committees of jurisdiction.
U.S. Textile Manufacturing and the Trans-Pacific Partnership Negotiations
This report examines the potential implications of a prospective Trans-Pacific Partnership Agreement (TPP) on the U.S. textile manufacturing industry. The TFP is a proposed regional free trade agreement (FTA) currently under negotiation among 11 Pacific Rim countries.
U.S. Trade and Investment in the Middle East and North Africa: Overview and Issues for Congress
This report provides background and analysis for policymakers considering re-evaluating U.S. trade and investment in the MENA region in light of recent political developments. In particular, the report examines the economic challenges facing many countries in the region and the area's limited integration in the world economy, including relatively weak economic ties with the United States. It also analyzes various policy options for increasing trade and investment with MENA countries. The report concludes by discussing: 1) the premise of the policy agenda, specifically whether increased trade and investment can support or lead to successful democratic transitions and political stability; and 2) if such a policy agenda is pursued, possible implementation questions that policymakers in Congress and the Administration may face.
The U.S. Export Control System and the President's Reform Initiative
The 112th Congress may consider reforms of the U.S. export control system. The balance between national security and export competitiveness has made the subject of export controls controversial for decades. Through the Export Administration Act (EAA), the Arms Export Control Act (AECA), the International Emergency Economic Powers Act (IEEPA), and other authorities, the United States restricts the export of defense items or munitions; so-called “dual-use” goods and technology—items with both civilian and military applications; certain nuclear materials and technology; and items that would assist in the proliferation of nuclear, chemical, and biological weapons or the missile technology used to deliver them. U.S. export controls are also used to restrict exports to certain countries on which the United States imposes economic sanctions. At present, the EAA has expired and dual-use controls are maintained under IEEPA authorities.
The U.S. Export Control System and the President's Reform Initiative
This report discusses some of the proposed legislation and other issues related to the U.S. export control system. In considering the future of the U.S. export control system, Congress may weigh the merits of a unified export control system—the end result of the President's proposal—or the continuation of the present bifurcated system by reauthorizing the present Export Administration Act (EAA) or writing new legislation. In doing so, Congress may debate the record of the present dual-use system maintained by emergency authority, the aims and effectiveness of the present non-proliferation control regimes, the maintenance of the defense industrial base, and the delicate balance between the maintenance of economic competitiveness and the preservation of national security.
The U.S. Export Control System and the President's Reform Initiative
This report looks at how the 112th Congress may consider reforms of the U.S. export control system.
Reform of U.S. International Taxation: Alternatives
This report describes and assesses the principal prescriptions that have been offered for broad reform of the current U.S. system for taxing international businesses. The report begins with an overview of current law and of possible revisions. It then sets the framework for considering economic efficiency as well as tax shelter activities. Finally, it reviews alternative approaches to revision in light of those issues.
The Proposed Anti-Counterfeiting Trade Agreement: Background and Key Issues
The proposed Anti-Counterfeiting Trade Agreement (ACTA) is a new agreement for combating intellectual property rights (IPR) infringement. The ACTA negotiation concluded in October 2010, nearly three years after it began, and negotiating parties released a final text of the agreement in May 2011. Negotiated by the United States, Australia, Canada, the European Union and its 27 member states, Japan, South Korea, Mexico, Morocco, New Zealand, Singapore, and Switzerland, the ACTA is intended to build on the IPR protection and enforcement obligations set forth in the 1995 World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement).
Pending U.S. and EU Free Trade Agreements with South Korea: Possible Implications for Automobile and Other Manufacturing Industries
This report provides U.S. lawmakers with a comparison of the manufacturing components in the South Korea free trade agreement (KORUS) and the European Union and South Korea free trade agreement (KOREU FTA). Also included is a brief overview of the possible implications of the two pending FTAs on other selected industrial sectors affected by the FTAs: home appliances, consumer electronics, textiles and apparel, and pharmaceuticals and medical devices.
The Meaning of "Made in U.S.A."
This report discusses the provisions in federal law are intended to support manufacturing in the United States. On April 18, 2017, President Trump issued an executive order directing federal agencies to ensure that federal grants and procurement maximize the use of manufactured goods produced in the United States, although it defined "produced in the United States" only for iron and steel products.
China's Economic Rise: History, Trends, Challenges, and Implications for the United States
This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise for the United States.
U.S. Trade in Services: Trends and Policy Issues
This report provides background information and analysis on U.S. international trade in services, as well as policy issues. It examines emerging issues and current negotiations, including the Trade in Services Agreement (TiSA), the Trans-Pacific Partnership (TPP), and the Transatlantic Trade and Investment Partnership (T-TIP).
China's Economic Rise: History, Trends, Challenges, and Implications for the United States
This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise for the United States.
Peru in Brief: Political and Economic Conditions and Relations with the United States
This report provides an overview of Peru's government and economy and a discussion of issues in relations between the United States and Peru.
Peru in Brief: Political and Economic Conditions and Relations with the United States
This report provides an overview of Peru's government and economy and a discussion of issues in relations between the United States and Peru.
NAFTA and the Mexican Economy
This report provides an overview of Mexico's motivations for entering the North American Free Trade Agreement (NAFTA), the Mexican economy, the economic effects of NAFTA in Mexico, and the views of NAFTA within Mexico. It also provides information on NAFTA's effect on Mexico's agricultural sector because this has been one of the more controversial issues surrounding NAFTA in Mexico.
Cargo Preferences for U.S.-Flag Shipping
This report explains the motivation behind cargo preference law, discusses issues concerning the cost-effectiveness of the program, and reviews attempts to apply cargo preference to the nation's oil trade. The report also identifies several disparate bills reflecting wide disagreement on the future direction of cargo preference policy.
Trade in Services: The Doha Development Agenda Negotiations and U.S. Goals
The report provides a brief background section on the significance of trade in services to the U.S. economy. It then explains briefly the General Agreement on Trade in Services (GATS) and the structure and agenda of the services negotiations in the Doha Development Agenda (DDA) round, including U.S. objectives in the negotiations. The report concludes with a status report on the negotiations and an examination of potential results.
WTO Dispute Settlement: Status of U.S. Compliance in Pending Cases
This report provides a summary of the status of U.S. compliance efforts in pending World Trade Organization (WTO) disputes that have resulted in adverse rulings against the United States. The report contains an overview of WTO dispute settlement procedures, a discussion of U.S. laws relating to WTO dispute proceedings, and a list of pending WTO disputes compliance phase, with a discussion of major issues and the U.S. compliance history in each.
Treasury Issues White Paper on Fintech and Marketplace Lending
This report briefly discusses the context and contents of a white paper issued on May 10, 2016 by the U.S. Department of the Treasury. The paper analyzes regulatory issues for the marketplace lending industry and offers several recommendations for industry and government responses.
Proposed Import Restrictions on Milk Protein Concentrates (MPCs)
Low farm milk prices and declining dairy sector income in 2009 have renewed congressional interest in imposing new import barriers on milk protein concentrates (MPCs), which generally include casein, the main protein found in milk, and caseinates, a soluble form of casein. This report examines proposed import restrictions and potential trade policy implications.
The Proposed U.S.-South Korea Free Trade Agreement (KORUS FTA): Automobile Rules of Origin
This report begins with a discussion of the complex supply chains that now underlie automotive production. It then explains the procedures established in the KORUS FTA for determining whether an automotive product qualifies as being of South Korean or United States origin and compares those procedures to the rules established in the free trade agreement between South Korea and the European Union. Finally, it discusses whether the domestic content rules in the KORUS FTA could enable circumvention of the rules of origin by allowing automotive components produced in North Korea’s Kaesong Industrial Complex (KIC) to enter the United States duty-free in assembled motor vehicles, and thereby receive the benefits provided by the agreement.
U.S. Crude Oil Exports to International Destinations
This report discusses the export of crude oil produced in the United States and policy considerations in the wake of a provision contained in P.L. 114-113 which repealed a 40-year prohibition on the export.
Export-Import Bank: Frequently Asked Questions
This report addresses frequently-asked questions about the Export-Import (Ex-Im) Bank, grouped in the following categories: congressional interest and the Ex-Im Bank reauthorization debate; market context; international context; organizational structure and management; programs; statutory requirements and policies; risk management; budget and appropriations; implications of a sunset in authority; and historical and current approaches to reauthorization.
Export-Import Bank: Background and Legislative Issues
The Export-Import Bank of the United States (Ex-Im Bank, EXIM Bank, or the Bank), an independent federal government agency, is the official export credit agency (ECA) of the United States. It helps finance U.S. exports of manufactured goods and services, with the objective of contributing to the employment of U.S. workers, primarily in circumstances when alternative financing is not available. Members of the 112th Congress may examine issues related to the Ex-Im Bank that center on the economic rationale for the Bank; the impact of the Bank on the federal budget and U.S. taxpayers; the Bank's support for specific types of business or industries; the current balance between the Bank's advancement of U.S. commercial interests and other U.S. policy goals; the competitive position of the Bank compared to foreign ECAs; and the Bank's organizational structure.
Export-Import Bank: Background and Legislative Issues
The Export-Import Bank of the United States (Ex-Im Bank), an independent federal government agency, is the official export credit agency of the United States. It helps finance American exports of manufactured goods and services, with the objective of contributing to the employment of U.S. workers, primarily in circumstances when alternative financing is not available. Ex-Im Bank also may assist U.S. exporters to meet foreign, officially sponsored, export credit competition. Ex-Im Bank's main programs are direct loans, loan guarantees, working capital guarantees, and export credit insurance. Ex-Im Bank transactions are backed by the full faith and credit of the U.S. government. The Bank operates under a renewable charter, the Export-Import Bank Act of 1945, which requires that all of the Bank's financing have a reasonable assurance of repayment and directs the Bank to supplement, and to not compete with, private capital.
Generalized System of Preferences: Background and Renewal Debate
This report presents, first, a brief history, economic rationale, and legal background leading to the establishment of the U.S. Generalized System of Preferences (GSP) program, which provides non-reciprocal, duty-free tariff treatment to certain products imported from designated beneficiary developing countries (BDC's). A brief comparison of GSP programs worldwide, especially as they compare to the U.S. system, is also presented. Second, the report presents a discussion of U.S. implementation of the GSP, along with the present debate surrounding its renewal and legislative developments to date. Third, an analysis of the U.S. program's effectiveness and the positions of various stakeholders is presented. Fourth, implications of the expiration of the U.S. program and possible options for Congress are discussed.
Dispute Settlement in the Proposed U.S.-South Korea Free Trade Agreement (KORUS FTA)
The proposed U.S.-South Korea Free Trade Agreement (KORUS FTA)1 follows current U.S. free trade agreement (FTA) practice in containing two types of dispute settlement: (1) State-State, applicable to disputes between the Parties to the KORUS FTA, and (2) investor-State, applicable to claims by an investor of one Party against the other Party for breach of a KORUS FTA investment obligation.
Peru in Brief: Political and Economic Conditions and Relations with the United States
This report provides an overview of Peru's government and economy and a discussion of issues in relations between the United States and Peru.
U.S. Government Agencies Involved in Export Promotion: Overview and Issues for Congress
This report provides an overview of the federal government agencies that participate in U.S. export promotion efforts and the issues that they raise for Congress. The recent global economic downturn has renewed congressional debate over the role of the federal government in promoting exports. This debate has been heightened with the Obama Administration's introduction of the National Export Initiative (NEI) in the 2010 State of the Union Address.
U.S. Foreign-Trade Zones: Background and Issues for Congress
Report that provides a general perspective on the U.S. Foreign-Trade Zone (FTZ) system. The first section discusses free trade zones worldwide. The second section focuses on the U.S. FTZ program --its history, administrative mechanism, structure, growth and industry concentration, and benefits and costs. The third section focuses on current issues for Congress relating to the U.S. FTZ program.
The World Trade Organization: The Non- Agricultural Market Access (NAMA) Negotiations
This report looks at the evolution of the Doha Round World Trade Organization (WTO) negotiations, possible effects of the Non-Agricultural Market Access (NAMA) agreement, and major negotiating issues from a U.S. standpoint. NAMA refers to the cutting of tariff and non-tariff barriers (NTB) on industrial and primary products, basically all trade in goods which are not foodstuffs.
WTO Dispute Settlement: Status of U.S. Compliance in Pending Cases
This report discusses the details of fourteen World Trade Organization (WTO) disputes in which rulings have not yet been implemented or in which the United States has acted and the dispute has not been fully resolved. The cases include disputes regarding trade remedies, antidumping, aircraft subsidies, cotton subsidies, online gambling restrictions, music copyright law, and trademark infringement.
WTO Dispute Settlement: Status of U.S. Compliance in Pending Cases
Although the United States has complied with adverse rulings in many past World Trade Organization (WTO) disputes, there are currently 14 cases in which rulings have not yet been implemented or the United States has acted and the dispute has not been fully resolved. Nine unresolved cases involve trade remedies. The report discusses all fourteen cases in detail, which include antidumping, aircraft subsidies, cotton subsidies, online gambling restrictions, music copyright law, and trademark infringement.
Commodity Futures Trading Commission: Proposed Reauthorization in the 115th Congress
This report describes the re-authorization of the Commodity Futures Trading Commission (CFTC), created in 1974.
U.S. Crude Oil Exports to International Destinations
This report discusses the export of crude oil produced in the United States and policy considerations in the wake of a provision contained in P.L. 114-113 which repealed a 40-year prohibition on the export.
The U.S. Export Control System and the Export Control Reform Initiative
This report discusses the U.S. export control system and initiatives to reform the export control system. Topics covered include the dual-use system, military export controls, nuclear controls, and President Obama's export control initiative.
Dispute Settlement Under the U.S.-Peru Trade Promotion Agreement: An Overview
This report discusses the U.S.-Peru Trade Promotion Agreement (PTPA) and the two types of formal dispute settlement it contains: 1) State-State and 2) investor-State. The report also discusses how the PTPA differs from earlier U.S. Free Trade Agreements (FTAs).
Dispute Settlement Under the U.S.-Peru Trade Promotion Agreement: An Overview
This report discusses the U.S.-Peru Trade Promotion Agreement (PTPA) and the two types of formal dispute settlement it contains: 1) State-State and 2) investor-State. The report also discusses how the PTPA differs from earlier U.S. Free Trade Agreements (FTAs).
U.S. Trade Deficit and the Impact of Changing Oil Prices
This report provides an estimate of the initial impact of the changing oil prices on the nation's merchandise trade balance.
U.S. Trade Deficit and the Impact of Changing Oil Prices
This report provides an estimate of the initial impact of the changing oil prices on the nation's merchandise trade balance.
U.S. Trade Deficit and the Impact of Changing Oil Prices
This report provides an estimate of the initial impact of the changing oil prices on the nation's merchandise trade balance.
U.S. Trade Deficit and the Impact of Changing Oil Prices
This report provides an estimate of the initial impact of the changing oil prices on the nation's merchandise trade balance.
U.S. Trade Deficit and the Impact of Changing Oil Prices
This report provides an estimate of the initial impact of the changing oil prices on the nation's merchandise trade balance.