What is USTR? What are their powers?

What is USTR? What are their powers?

Recently, the Senate Finance Committee held a hearing on the nomination of Ms. Katherine Tai to serve as United States Trade Representative (USTR). The hearing followed the recent appointments of 13 individuals to serve in senior staff positions at USTR.

What is USTR?

The Office of the United States Trade Representative (USTR) is an agency of the United States federal government responsible for developing and promoting American trade policy. USTR was established as the Office of the Special Trade Representative (STR) by the Trade Expansion Act of 1962.

What are the Significance of USTR?

USTR provides trade policy leadership and negotiating expertise in its major areas of responsibility, including

• Bilateral, regional and multilateral trade and investment issues
• Expansion of market access for American goods and services
• International commodity agreements
• Negotiations affecting U.S. import policies
• Trade-related intellectual property protection issues
• World Trade Organization (WTO) issues

What are powers of USTR? 

USTR leads trade negotiations at bilateral and multilateral levels, and coordinates trade policy with other government agencies through the Trade Policy Staff Committee (TPSC) and Trade Policy Review Group (TPRG).

Its areas of expertise include foreign direct investment, commodity agreements, trade-related intellectual property protection, and trade disputes before the World Trade Organisation. Based in Washington, D.C., Katherine Tai is the current United States Trade Representative.

The USTR directly negotiate with foreign governments to create trade agreements, to resolve trade disputes, and to participate in global trade policy organizations.

The US Trade Act gives the USTR broad authority to investigate and respond to a foreign country’s action. These actions include unfair or discriminatory practices as well as policies negatively affect US commerce.

The USTR publishes few major annual reports. Such as

• National Trade Estimate Report
• The Special 301 Report – identifies trade barriers to United States companies and products