Trade promotion authority (TPA)

Trade Promotion Authority (TPA), also known as fast-track authority, is a legislative procedure that allows Congress to define "U.S. negotiating objectives and spells out a detailed oversight and consultation process for during trade negotiations. Under TPA, Congress retains the authority to review and decide whether any proposed U.S. trade agreement will be implemented," according to the Office of the United States Trade Representative. Before entering into a final trade agreement, Congress votes on the agreement in a simple up or down vote. Congress does not have the ability to amend the agreement.

According to the Office of the United States Trade Representative, the key elements of TPA are:

• "TPA outlines Congressional guidance to the President on trade policy priorities and negotiating objectives."

• "TPA establishes Congressional requirements for the Administration to notify and consult with Congress, with the private sector and other stakeholders and with the public during the negotiations of trade agreements."

• "TPA defines the terms, conditions and procedures under which Congress allows the Administration to enter into trade agreements, and sets the procedures for Congressional consideration of bills to implement the agreements."

See also

• Trade adjustment assistance (TAA)
• Investor-State Dispute Settlement (ISDS)
• North American Free Trade Agreement (NAFTA)
• Currency manipulation
• The Trans-Pacific Partnership trade deal: An overview
• The Transatlantic Trade and Investment Partnership