Trade Agreements Act Law and Legal Definition

The Trade Agreements Act (“Act”) is a federal legislation which came into existence in 1979. It governs trade agreements negotiated between the U.S. and other countries. It is established pursuant to 19 USCS § 2501. The following are the purposes of this Act:

1.to approve and implement the trade agreements negotiated under the Trade Act of 1974;

2. to foster the growth and maintenance of an open world trading system;

3.to expand opportunities for the commerce of the United States in international trade; and

4.to improve the rules of international trade and to provide for the enforcement of such rules, and for other purposes.