Telecommunications Trade Act Law and Legal Definition
The Telecommunications Trade Act (Act) is a federal legislation providing for the growth of telecommunication products and services in the U.S. The Act helps in the development of export-related employment and consumer services in the U.S. The Act also facilitates continuance of technological leadership of the U.S. by undertaking a program to achieve an open world market for trade in telecommunications products, services, and investment.
The purposes of the Act are as follows::
1.Fostering the economic and technological growth of, and employment in the U.S. telecommunications industry;
2.Securing high quality telecommunications network for the benefit of the people of the U.S.;
3.Developing international consensus in favor of open trade and competition in telecommunications products and services;
4.Ensuring that countries that have made commitments to open telecommunications trade fully abide by those commitments;
5.Achieving a more open world trading system for telecommunications products and services through negotiation and provision of mutually advantageous market opportunities for the U.S. telecommunications exporters.
The Act lays down various general objectives and specific negotiating objectives. According to 19 USCS § 3104, the specific negotiating objectives under the Act are:
1.To obtain national treatment for telecommunications products and services that are provided by the U.S. firms;
2. To obtain most-favored-nation treatment for the U.S. telecommunications products and services ;
3. To obtain nondiscriminatory procurement policies with respect to the U.S. telecommunications products and services;
4. To obtain reduction or elimination of customs duties on telecommunications products ;
5. To obtain elimination of subsidies, violations of intellectual property rights, and other unfair trade practices that distort international trade in telecommunications products and services;
6. To obtain elimination of investment barriers that restrict the establishment of foreign-owned business entities that market telecommunications products and services.