Bipartisan Trade Promotion Authority Act Law and Legal Definition
Bipartisan Trade Promotion Authority Act (“Act”) is a federal legislation that promotes for the expansion of international trade which is vital to the national security of the U.S. in addition, the Act provides for stable trading relationships that promote security and prosperity. The following are the objectives of the Act:
1.to obtain more open, equitable, and reciprocal market access;
2.to obtain the reduction or elimination of barriers and distortions that are directly related to trade and that decrease market opportunities for the U.S. exports or otherwise distort U.S. trade;
3.to further strengthen the system of international trading disciplines and procedures, including dispute settlement;
4.to foster economic growth, raise living standards, and promote full employment in the United States and to enhance the global economy;
5.to ensure that trade and environmental policies are mutually supportive;
6.to seek to protect and preserve the environment and enhance the international means of doing so, while optimizing the use of the world's resources;
7.to promote respect for worker rights and the rights of children consistent with core labor standards of the International Labor Organization (ILO).
