(a) Annual report on trade agreements program and national trade policy agenda
(1) The President shall submit to the Congress during each calendar year (but not later than March 1 of that year) a report on—
(A) the operation of the trade agreements program, and the provision of import relief and adjustment assistance to workers and firms, under this chapter during the preceding calendar year; and
(B) the national trade policy agenda for the year in which the report is submitted.
(2) The report shall include, with respect to the matters referred to in paragraph (1)(A), information regarding—
(A) new trade negotiations;
(B) changes made in duties and nontariff barriers and other distortions of trade of the United States;
(C) reciprocal concessions obtained;
(D) changes in trade agreements (including the incorporation therein of actions taken for import relief and compensation provided therefor);
(E) the extension or withdrawal of nondiscriminatory treatment by the United States with respect to the products of foreign countries;
(F) the extension, modification, withdrawal, suspension, or limitation of preferential treatment to exports of developing countries;
(G) the results of actions to obtain the removal of foreign trade restrictions (including discriminatory restrictions) against United States exports and the removal of foreign practices which discriminate against United States service industries (including transportation and tourism) and investment;
(H) the measures being taken to seek the removal of other significant foreign import restrictions;
(I) each of the referrals made under section 2171(d)(1)(B) of this title and any action taken with respect to such referral;
(J) other information relating to the trade agreements program and to the agreements entered into thereunder;
(K) the number of applications filed for adjustment assistance for workers and firms, the number of such applications which were approved, and the extent to which adjustment assistance has been provided under such approved applications; and
(L) the operation of the Interagency Center on Trade Implementation, Monitoring, and Enforcement established under section 2171(h) of this title, including—
(i) information relating to the personnel of the Center, including a description of any employees detailed or assigned to the Center by a Federal agency under paragraph (3)(B) of such section;
(ii) information relating to the functions of the Center; and
(iii) an assessment of the operating costs of the Center.
(3)
(A) The national trade policy agenda required under paragraph (1)(B) for the year in which a report is submitted shall be in the form of a statement of—
(i) the trade policy objectives and priorities of the United States for the year, and the reasons therefor;
(ii) the actions proposed, or anticipated, to be undertaken during the year to achieve such objectives and priorities, including, but not limited to, actions authorized under the trade laws and negotiations with foreign countries;
(iii) any proposed legislation necessary or appropriate to achieve any of such objectives or priorities; and
(iv) the progress that was made during the preceding year in achieving the trade policy objectives and priorities included in the statement provided for that year under this paragraph.
(B) The President may separately submit any information referred to in subparagraph (A) to the Congress in confidence if the President considers confidentiality appropriate.
(C) Before submitting the national trade policy agenda for any year, the President shall seek advice from the appropriate advisory committees established under section 2155 of this title and shall consult with the appropriate committees of the Congress.
(D) The United States Trade Representative (hereafter referred to in this section as the "Trade Representative") and other appropriate officials of the United States Government shall consult periodically with the appropriate committees of the Congress regarding the annual objectives and priorities set forth in each national trade policy agenda with respect to—
(i) the status and results of the actions that have been undertaken to achieve the objectives and priorities; and
(ii) any development which may require, or result in, changes to any of such objectives or priorities.
(b) Annual trade projection report
(1) In order for the Congress to be informed of the impact of foreign trade barriers and macroeconomic factors on the balance of trade of the United States, the Trade Representative and the Secretary of the Treasury shall jointly prepare and submit to the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives (hereafter referred to in this subsection as the "Committees") on or before March 1 of each year a report which consists of—
(A) a review and analysis of—
(i) the merchandise balance of trade,
(ii) the goods and services balance of trade,
(iii) the balance on the current account,
(iv) the external debt position,
(v) the exchange rates,
(vi) the economic growth rates,
(vii) the deficit or surplus in the fiscal budget, and
(viii) the impact on United States trade of market barriers and other unfair practices,
of countries that are major trading partners of the United States, including, as appropriate, groupings of such countries;
(B) projections for each of the economic factors described in subparagraph (A) (except those described in clauses (v) and (viii)) for each of the countries and groups of countries referred to in subparagraph (A) for the year in which the report is submitted and for the succeeding year; and
(C) conclusions and recommendations, based upon the projections referred to in subparagraph (B), for policy changes, including trade policy, exchange rate policy, fiscal policy, and other policies that should be implemented to improve the outlook.
(2) To the extent that subjects referred to in paragraph (1)(A), (B), or (C) are covered in the national trade policy agenda required under subsection (a)(1)(B) or in other reports required by this chapter or other law, the Trade Representative and the Secretary of the Treasury may, as appropriate, draw on the information, analysis, and conclusions, if any, in those reports for the purposes of preparing the report required by this subsection.
(3) The Trade Representative and the Secretary of the Treasury shall consult with the Chairman of the Board of Governors of the Federal Reserve System in the preparation of each report required under this subsection.
(4) The Trade Representative and the Secretary of the Treasury may separately submit any information, analysis, or conclusion referred to in paragraph (1) to the Committees in confidence if the Trade Representative and the Secretary consider confidentiality appropriate.
(5) After submission of each report required under paragraph (1), the Trade Representative and the Secretary of the Treasury shall consult with each of the Committees with respect to the report.
(c) ITC reports
The United States International Trade Commission shall submit to the Congress, at least once a year, a factual report on the operation of the trade agreements program.
(d) Quadrennial plan and report
(1) Quadrennial plan
Pursuant to the goals and objectives of the strategic plan of the Office of the United States Trade Representative as required under section 306 of title 5, the Trade Representative shall, every 4 years, develop a plan—
(A) to analyze internal quality controls and record management of the Office;
(B) to identify existing staff of the Office and new staff that will be necessary to support the trade negotiation and enforcement functions and powers of the Office (including those functions and powers of the Trade Policy Staff Committee) as described in section 2171 of this title and section 2411 of this title;
(C) to identify existing staff of the Office and staff in other Federal agencies who will be required to be detailed or assigned to support interagency programs led by the Trade Representative, including any associated expenses;
(D) to provide an outline of budget justifications, including salaries and expenses as well as nonpersonnel administrative expenses, for the fiscal years required under the strategic plan; and
(E) to provide an outline of budget justifications, including salaries and expenses as well as nonpersonnel administrative expenses, for interagency programs led by the Trade Representative for the fiscal years required under the strategic plan.
(2) Report
(A) In general
The Trade Representative shall submit to the appropriate congressional committees a report that contains the plan required under paragraph (1). Except as provided in subparagraph (B), the report required under this subparagraph shall be submitted in conjunction with the strategic plan of the Office as required under section 306 of title 5.
(B) Exception
The Trade Representative shall submit to the appropriate congressional committees an initial report that contains the plan required under paragraph (1) not later than June 1, 2016.
(C) Appropriate congressional committees defined
In this paragraph, the term "appropriate congressional committees" means—
(i) the Committee on Finance and the Committee on Appropriations of the Senate; and
(ii) the Committee on Ways and Means and the Committee on Appropriations of the House of Representatives.
References in Text
This chapter, referred to in subsecs. (a)(1)(A) and (b), was in the original "this Act", meaning Pub. L. 93–618, Jan. 3, 1975, 88 Stat. 1978, as amended, which is classified principally to this chapter. For complete classification of this Act to the Code, see References in Text note set out under section 2101 of this title and Tables.
Amendments
2016—Subsec. (a)(2)(L). Pub. L. 114–125, §604(c)(1), added subpar. (L).
Subsec. (d). Pub. L. 114–125, §604(c)(2), added subsec. (d).
1988—Pub. L. 100–418 amended section generally, completely revising and expanding provisions covering reports, changing the structure of the section from one consisting of subsecs. (a) and (b) to one consisting of subsecs. (a) to (c).
Trade Deficit Review Commission
Pub. L. 105–277, div. A, §127, Oct. 21, 1998, 112 Stat. 2681–547, as amended by Pub. L. 106–57, title III, §311, Sept. 29, 1999, 113 Stat. 427; Pub. L. 106–246, div. B, title II, §2501, July 13, 2000, 114 Stat. 556; Pub. L. 107–107, div. A, title X, §1048(i)(10), Dec. 28, 2001, 115 Stat. 1229, provided that:
"(a)
"(b)
"(1) The United States continues to run substantial merchandise trade and current account deficits.
"(2) Economic forecasts anticipate continued growth in such deficits in the next few years.
"(3) The positive net international asset position that the United States built up over many years was eliminated in the 1980s. The United States today has become the world's largest debtor nation.
"(4) The United States merchandise trade deficit is characterized by large bilateral trade imbalances with a handful of countries.
"(5) The United States has one of the most open borders and economies in the world. The United States faces significant tariff and nontariff trade barriers with its trading partners. The United States does not benefit from fully reciprocal market access.
"(6) The United States is once again at a critical juncture in trade policy development. The nature of the United States trade deficit and its causes and consequences must be analyzed and documented.
"(c)
"(1)
"(2)
"(3)
"(A)
"(i) Three persons shall be appointed by the President pro tempore of the Senate upon the recommendation of the Majority Leader of the Senate, after consultation with the Chairman of the Committee on Finance.
"(ii) Three persons shall be appointed by the President pro tempore of the Senate upon the recommendation of the Minority Leader of the Senate, after consultation with the ranking minority member of the Committee on Finance.
"(iii) Three persons shall be appointed by the Speaker of the House of Representatives, after consultation with the Chairman of the Committee on Ways and Means.
"(iv) Three persons shall be appointed by the Minority Leader of the House of Representatives, after consultation with the ranking minority member of the Committee on Ways and Mean.
"(B)
"(i)
"(I) have expertise in economics, international trade, manufacturing, labor, environment, business, or have other pertinent qualifications or experience; and
"(II) are not officers or employees of the United States.
"(ii)
"(I) are representative of a broad cross-section of economic and trade perspectives within the United States; and
"(II) provide fresh insights to analyzing the causes and consequences of United States merchandise trade and current account deficits.
"(4)
"(A)
"(B)
"(5)
"(6)
"(7)
"(8)
"(9)
"(d)
"(1)
"(2)
"(A) The relationship of the merchandise trade and current account balances to the overall well-being of the United States economy, and to wages and employment in various sectors of the United States economy.
"(B) The impact that United States monetary and fiscal policies may have on United States merchandise trade and current account deficits.
"(C) The extent to which the coordination, allocation, and accountability of trade responsibilities among Federal agencies may contribute to the trade and current account deficits.
"(D) The causes and consequences of the merchandise trade and current account deficits and specific bilateral trade deficits, including—
"(i) identification and quantification of—
"(I) the macroeconomic factors and bilateral trade barriers that may contribute to the United States merchandise trade and current account deficits;
"(II) any impact of the merchandise trade and current account deficits on the domestic economy, industrial base, manufacturing capacity, technology, number and quality of jobs, productivity, wages, and the United States standard of living;
"(III) any impact of the merchandise trade and current account deficits on the defense production and innovation capabilities of the United States; and
"(IV) trade deficits within individual industrial, manufacturing, and production sectors, and any relationship between such deficits and the increasing volume of intra-industry and intra-company transactions;
"(ii) a review of the adequacy and accuracy of the current collection and reporting of import and export data, and the identification and development of additional data bases and economic measurements that may be needed to properly quantify the merchandise trade and current account balances, and any impact the merchandise trade and current account balances may have on the United States economy; and
"(iii) the extent to which there is reciprocal market access substantially equivalent to that afforded by the United States in each country with which the United States has a persistent and substantial bilateral trade deficit, and the extent to which such deficits have become structural.
"(E) Any relationship of United States merchandise trade and current account deficits to both comparative and competitive trade advantages within the global economy, including—
"(i) a systematic analysis of the United States trade patterns with different trading partners and to what extent the trade patterns are based on comparative and competitive trade advantages;
"(ii) the extent to which the increased mobility of capital and technology has changed both comparative and competitive trade advantages;
"(iii) any impact that labor, environmental, or health and safety standards may have on comparative and competitive trade advantages;
"(iv) the effect that offset and technology transfer agreements have on the long-term competitiveness of the United States manufacturing sectors; and
"(v) any effect that international trade, labor, environmental, or other agreements may have on United States competitiveness.
"(F) The extent to which differences in the growth rates of the United States and its trading partners may impact on United States merchandise trade and current account deficits.
"(G) The impact that currency exchange rate fluctuations and any manipulation of exchange rates may have on United States merchandise trade and current account deficits.
"(H) The flow of investments both into and out of the United States, including—
"(i) any consequences for the United States economy of the current status of the United States as a debtor nation;
"(ii) any relationship between such investment flows and the United States merchandise trade and current account deficits and living standards of United States workers;
"(iii) any impact such investment flows may have on United States labor, community, environmental, and health and safety standards, and how such investment flows influence the location of manufacturing facilities; and
"(iv) the effect of barriers to United States foreign direct investment in developed and developing nations, particularly nations with which the United States has a merchandise trade and current account deficit.
"(e)
"(1)
"(A) the findings and conclusions of the Commission described in subsection (d); and
"(B) recommendations for addressing the problems identified as part of the Commission's analysis.
"(2)
"(f)
"(1)
"(2)
"(3)
"(g)
"(1)
"(2)
"(3)
"(A)
"(B)
"(4)
"(5)
"(6)
"(h)
"(i)
"(j)
"(k)
Delegation of Functions
Memorandum of President of the United States, Mar. 1, 2004, 69 F.R. 10133, provided:
Memorandum for the United States Trade Representative
By the authority vested in me as President by the Constitution and the laws of the United States, including section 301 of title 3, United States Code, I hereby delegate to you the functions conferred upon the President by section 163 of the Trade Act of 1974, as amended (19 U.S.C. 2213), to provide the specified report to the Congress.
You are authorized and directed to publish this memorandum in the Federal Register.
George W. Bush.
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