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Politics : Politics & Broadcast News Media - Nightly

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To: jimpit who started this subject	8/2/2002 9:02:58 AM
From: Tadsamillionaire	of 165

Key elements of the trade bill passed by Congress: * Gives the president authority to negotiate international trade agreements subject to a single yes or no vote by Congress. Lawmakers won't be able to add amendments. * Sets negotiating objectives, such as to reduce trade barriers, strengthen dispute-settlement procedures, improve adherence to international labor and environmental standards, and reduce barriers to U.S. agriculture products. * Requires increased consultation with Congress. * Expands Trade Adjustment Assistance, a program that provides money and retraining to workers who lose their jobs because of overseas competition. * Expands the Andean Trade Preferences Act, which provides low tariffs for selected products from the Andean nations of Colombia, Peru, Ecuador and Bolivia. The program expired in December; the bill would extend it through February 2006. * Extends the Generalized System of Preferences through the end of 2006. The program gives the president authority to give preferential tax treatment to goods from developing countries. usatoday.com

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