Trump asks Congress to extend trade authorities

President Donald Trump on Tuesday asked Congress to extend Trade Promotion Authority by three years to July 1, 2021.    President Donald Trump on Tuesday submitted a formal request to Congress to extend Trade Promotion Authority (TPA), which gives the executive branch broad power to negotiate trade agreements.
   Trump requested a three-year extension of TPA, which expires July 1, 2018.
   Enacted through the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, TPA, if renewed, will allow the Trump administration to continue renegotiating the North American Free Trade Agreement (NAFTA) with the anticipation of a straight up or down vote by Congress of legislation to implement any updates reached during the renegotiation.
   Trade officials are exploring potential trade agreement partners, including in Africa and Southeast Asia, according to Trump’s notice.
   “As noted in the 2018 Trade Policy Agenda, my Administration has launched a new era in American trade policy, driven by a determination to use the leverage available to us as the world’s largest economy to open foreign markets, and to obtain more efficient global markets and fairer treatment for American workers,” Trump said in the notice. “One of the major pillars supporting my trade policy is the pursuit of better trade deals.”
   Over 100 Republicans in both the House and Senate on Tuesday sent a letter to U.S. Trade Representative Robert Lighthizer, calling for the administration to maintain investor-state dispute settlement (ISDS) through the NAFTA negotiations, noting a link between ISDS and TPA.
   Republicans said not maintaining the essential structure of existing NAFTA ISDS provisions through any renegotiated agreement would “jeopardize” GOP support of the deal.
   The letter noted that TPA directs the executive branch to secure investment rights in foreign countries for U.S. companies comparable to those available under U.S. legal principles and practices, including by “providing meaningful procedures for resolving investment disputes.”