118th Congress Foreign Trade and International Finance
S. 446: Trading System Preservation Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill authorizes the President to enter into covered plurilateral trade agreements. Covered plurilateral trade agreement refers to a sector-specific agreement within the framework of the World Trade Organization (WTO) involving foreign countries or foreign territories that form a subset of the members of the WTO that does not extend benefits on a most-favored-nation basis.
Specifically, the bill requires the U.S. Trade Representative to provide a classified briefing to specified congressional committees on the feasibility and advisability of pursuing and adopting covered plurilateral trade agreements.
After the congressional briefing, the bill directs the President to initiate negotiations for a covered plurilateral trade agreement when the President determines it is in the national interest to do so.
Read the full summary
The bill authorizes the President to enter into these agreements in specified sectors of the economy (e.g., digital services and pharmaceuticals), with such authority expiring on July 1, 2028. Further, the President may proclaim a modification or continuance of any existing duty or continuance of existing excise or duty-free treatment to carry out an agreement.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Todd Young R-INOriginal
Who scored on this bill
- 1Christopher Coons SponsorDrew cross-party cosponsors, introduced2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.
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History
- Introduced in the Senate by Christopher Coons.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.