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US SB776
Bill
Status
2/27/2025
Primary Sponsor
Christopher Coons
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AI Summary
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Grants the President authority to negotiate and enter into a comprehensive trade agreement with the United Kingdom covering tariff and nontariff barriers, with negotiations required to begin within 180 days of enactment
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Presidential trade agreement authority terminates on March 1, 2029, and implementing bills must be submitted before that date to qualify for expedited "trade authorities procedures" allowing fast-track congressional consideration
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Limits tariff modifications: duties above 5% cannot be reduced below 50% of current rates, import-sensitive agricultural products cannot fall below Uruguay Round Agreement levels, and no duty increases above current rates are permitted
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Requires compliance with the Good Friday Agreement (April 10, 1998) and mandates that any trade deal advance peace, stability, and prosperity in Ireland and Northern Ireland
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Prohibits waiver, suspension, or termination of the agreement without express congressional approval, and requires adherence to consultation, notification, and oversight requirements under the Bipartisan Congressional Trade Priorities and Accountability Act of 2015
Legislative Description
UNITED Act Undertaking Negotiations on Investment and Trade for Economic Dynamism Act
Foreign trade and international finance
Last Action
Read twice and referred to the Committee on Finance.
2/27/2025