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The Omnibus Trade and Competitiveness Act of 1988 elevated the position's role to "coordinate trade policy, serve as the President's principal trade advisor and trade 'spokesperson', and lead U.S. international trade negotiations". [7] It also "required the USTR to report to both the President and Congress". [7]
The authority of Congress to regulate international trade is set out in the United States Constitution (Article I, Section 8, Paragraph 1): . The Congress shall have power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and to promote the general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform ...
The ITA was created on January 2, 1980, and is headed by the Under Secretary of Commerce for International Trade (USC(IT)), the principal adviser to the Secretary of Commerce on American imports and exports. The Under Secretary is the head of the International Trade Administration within the Commerce Department.
The following is a list of international organizations in which the United States of America officially participates. [ 1 ] Agreement between the United States of America, the United Mexican States, and Canada (USMCA)
The Assistant Secretary of the Treasury for International Trade and Development is a senior official in the United States Department of the Treasury who heads a portfolio of the department's offices on international financial services issues, trade and investment policy, banking and securities, and U.S. relations with multilateral development banks.
The United States Council for International Business (USCIB) is an independent business advocacy group that was founded in 1945 to promote free trade and help represent U.S. business in the then-new United Nations. One of its primary goals is expanding market access for U.S. products and services abroad. The organization is strongly in favor of ...
GUAM Organization for Democracy and Economic Development (GUAM) FTA [11] [12] - unclear application, the WTO was notified in only 2017 - multilateral free trade regime among 4 countries (International Trade Centre says there is no free trade area in operation with distinct rules from an Agreement on Creation of CIS Free Trade Area, was signed ...
The TPA law was known as the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, [29] and the TAA law was known as the Trade Preferences Extension Act of 2015. [30] The ultimate approval of this legislation conferred on the Obama administration "enhanced power to negotiate major trade agreements with Asia and Europe."