What the President Would Get
Saturday, July 27, 2002; Page A08
Following are key elements of the House-Senate compromise trade package:
• Gives the president the authority to negotiate international trade agreements subject to a single yes or no vote by Congress without amendments.
• Sets overall negotiating objectives, including to: reduce trade barriers, strengthen dispute settlement procedures, improve adherence to international labor and environmental standards, protect U.S. trade remedy laws, and reduce barriers to U.S. agriculture products.
• Makes it a goal to reduce tariffs and barriers that decrease market opportunities for U.S. companies for the service industry, intellectual property, electronic commerce and textiles.
• Extends from 52 to 78 weeks the period Americans who lose jobs are paid to allow recipients to complete training.
• Extends eligibility to some secondary workers, such as those who supply goods to manufacturers.
• Extends benefits when manufacturing plants move to countries that have free or preferential trade agreements with the United States.
• For the first time extends health insurance to dislocated workers. Workers would be eligible for a 65 percent refundable tax credit to be used to pay for federal or state-based group coverage options.
• Increases the training budget from $140 million to $220 million.
• Through 2006, provides low tariffs for selected products from the Andean nations of Colombia, Peru, Ecuador and Bolivia.
• Through 2006, authorizes the president to give preferential duty treatment to goods from developing countries.