Trade Promotion Authority Extension is Focus of ITC Investigation
Following President Trump’s request for a three-year extension of trade promotion authority, the International Trade Commission has instituted an investigation of the economic impact on the U.S. of all trade agreements implemented since the most recent enactment of TPA. The ITC is unaware of any such agreements, noting that the Trans-Pacific Partnership was negotiated but not implemented during this period. However, public comments are being accepted through May 2 and the ITC intends to submit its report to Congress by June 1.
TPA allows the president to negotiate trade agreements that Congress must approve or reject within a specific timeframe but may not amend. It is currently scheduled to expire June 30 but will automatically be extended through June 30, 2021, unless either the House or Senate adopts a resolution of disapproval. President Trump has said an extension is “essential” to his ongoing efforts to revise NAFTA and to potentially negotiate new trade agreements with other countries, “including in Africa and Southeast Asia.”