A bipartisan bill introduced on Thursday by Sens. Orrin Hatch (R-Utah) and Dave Camp (R-Mich.) would strengthen rules for trade negotiations and congressional approval of trade pacts in an effort to boost U.S. exports.
Hatch and Camp, both members of the Senate Finance Committee, joined Committee Chairman Sen. Max Baucus (D-Mont.) in introducing the Bipartisan Congressional Trade Priorities Act of 2014.
The measure would establish congressional negotiating objectives and requirements for congressional consultation and access to information.
“This legislation will ensure that the administration is following the rules and negotiating objectives that Congress has set out,” Camp said. “In order to achieve the economic growth and job benefits that trade agreements can bring to the U.S., we must first pass strong, bipartisan TPA legislation. I look forward to working with the administration and with Republicans and Democrats in Congress to enact this bill.”
The bill would update labor and environmental provisions to reflect recent trade agreements and set market access priorities for specific services and goods. It would also restrict rules against barriers to U.S. agricultural trade.
The measure would also establish the first clear directive on currency manipulation.
“This bipartisan legislation helps meet the challenges of today’s competitive global economy and will play a key role in getting our nation out of years of economic stagnation by spurring economic growth and greater opportunity,” Hatch said. “From increasing protections for digital trade and data flows to enforcing strong U.S. intellectual property rights, this legislation will be instrumental to ensuring that our country’s current trade negotiations in Asia and Europe are a success and that these agreements meet the high-standards necessary for congressional approval.”