President Bush Notifies Congress of His Intent to Sign an FTA with Australia
On February 8, 2004, the U.S. and Australia concluded a free trade agreement (FTA) that is designed to, among other things, eliminate and reduce tariffs and other trade barriers.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
On February 13, 2004, President Bush notified Congress of his intent to sign an FTA with Australia. (Under the provisions of the Trade Act of 2002's Bipartisan Trade Promotion Authority Act of 2002, the President is required to notify Congress at least 90 days in advance of signing the U.S.-Australia FTA.)
After FTA is Signed, Next Step is Enactment of Implementing Legislation
Once the U.S.-Australia FTA is signed, the President is required to formally submit to Congress the draft U.S.-Australia FTA, the implementing legislation for the FTA, and a statement of administrative action.
Congress will have 90 legislative days to consider the implementing legislation. According to Congressional sources, the FTA implementing legislation cannot be amended and is subject to a straight "up or down" vote by the House and Senate.
If the FTA implementing legislation is passed by the House and Senate, it could then be signed into law by the President, who would subsequently issue a proclamation implementing the U.S.-Australia FTA.
One Source Opines U.S.-Australia FTA Could Possibly Take Effect as Early as January 1, 2005
One U.S. government source has opined that if the Bush Administration can complete the above steps in 2004, it is possible that a U.S.-Australia FTA could take effect as early as January 1, 2005. (See ITT's Online Archives or 02/10/04 news, 04021005, for BP summary on the U.S.-Australia FTA, including highlights of its provisions.)
Presidential notification (FR Pub 02/18/04) available at
http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo.gov/2004/pdf/04-3712.pdf and Presidential letter to Congress (dated 02/13/04) available at
www.whitehouse.gov/news/releases/2004/02/print/20040213-11.html.