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What the President Would Get



Saturday, July 27, 2002; Page A08

Following are key elements of the House-Senate compromise trade package:

Trade Promotion Authority:

• 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.

Trade Adjustment Assistance:

• 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.

Andean Trade Preferences Act:

• Through 2006, provides low tariffs for selected products from the Andean nations of Colombia, Peru, Ecuador and Bolivia.

Generalized System of Preferences:

• Through 2006, authorizes the president to give preferential duty treatment to goods from developing countries.

-- Associated Press

© 2002 The Washington Post Company