Trade Adjustment Assistance (TAA) Law and Legal Definition
Trade Adjustment Assistance (TAA) is a beneficial program under the Federal Trade Act. It provides several benefits to those who are laid off or has reduced working hours because their employer was adversely affected by increased imports from other countries. Trade Readjustment Allowances (TRA) is one of the benefits covered under TAA. TRA provides additional income support to individuals who meet the requirements after their regular unemployment benefits are exhausted. The trade-affected employer must be covered under a certification of group eligibility. Certification of group eligibility is given by the U.S. Department of Labor to an employee as eligible to apply for TAA benefits. The Petition for Trade Adjustment Assistance has to be filed with the U.S. Department of Labor. If the labor department approves and certifies the petition, the affected employees will be entitled to file a claim under the TAA program.
Trade Adjustment Assistance programs offer a weekly payment called Trade Readjustment Allowances (TRA). The workers may receive unemployment compensation, which is a weekly income support payment before determining whether they are eligible for TAA.