It should be noted that the U.S. International Court of Commerce distinguishes between approving a trade agreement called “action that authorizes U.S. international legal obligations under the agreement” and amending the statutes for compliance with U.S. legislation to contractual obligations. Canadian Lumber Trade Alliance v. United States, 425 F.Supp.2d 1321, 1359-63 (Ct. Int`l Trade 2006). From the wide range of options, each potential outcome has one or other attractive community of interest and is opposed by other stakeholders. The main areas of action included in trade agreements are the liberalisation of tariffs (the scope of which is covered by the rules of origin); liberalisation of trade in services; opening up public procurement to foreign competition; Barriers to trade, including the regulatory process; Digital commerce Intellectual property Investment protection (and investor-state dispute settlement); Work environment (including climate change) Competition policy Corruption; Monetary practices Human rights; and the rights of indigenous peoples.
It is sometimes difficult to draw the line on what belongs to a trade agreement and what is not, but there are strong arguments for a traditional focus on protectionist measures, with other issues dealt with by specialized treaties and international organizations.1 Congress recently granted the President temporary bargaining power for trade , which uses this approach in the Bipartisan Trade Promotion Authority Act of 2002 (BTPAA). , are included in Title XXI of the Trade Act 2002, S.L. 107-210. Although the Authority ended during the 110th Congress, agreements reached before July 1, 2007 as part of an expedited congressional review process remained in question. Prior to that date, the President had concluded free trade agreements with Colombia, Korea and Panama, each of which was awaiting congressional approval. In October 2011, Congress approved the three outstanding agreements, allowing the approval of 11 free trade agreements under the DE BTPAA procedure. A more difficult issue will be the assessment of the Trump administration`s tariffs in paragraph 301 and the Phase 1 trade agreement between the United States and China. One possibility would be to lift all tariffs and denounce the agreement by executive order (which could be done because Congress has not formally signed the agreement) and start with a new process involving cooperation with allies to put pressure on China.