,i #aag? ,,congress #a/ ,session ,h4 ,r4 #faad ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,decemb] #a1 #bjba,mrs4 ,mill] ( ,we/ ,virg9ia 7= h]self & ,mr4 ,la,hood7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to promote ,unit$ ,/ates trade lead]%ip 9 ! ,indo-,pacific region & to require a report on ! long-t]m economic & trade relation%ip betwe5 ! ,unit$ ,/ates & ! ,p's ,republic ( ,*9a4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,u4,s4 ,trade ,lead]%ip 9 ! ,indo-,pacific & ,*9a ,act4 ,i ,unit$ ,/ates trade lead]%ip 9 ! ,indo-,pacific region #aja4 ,f9d+s ,congress makes ! foll[+ f9d+s3 7#a7 ,ris+ au?orit>ian p[]s t adh]e to non-m>ket pr9ciples = manag+ _! economies are *all5g+ ! ,unit$ ,/ates /rategic influ5ce 9 ! ,indo-,pacific region4 ,^! m]cantili/ policies1 :i* include pr$atory indu/rial plann+ to subsidize exports & support national *ampions at ! exp5se ( =eign competitors1 condition+ m>ket access on bo? =c$ & volunt>y te*nology transf]s1 & intellectual prop]ty !ft1 among o!r unfair policies1 are contr>y to ! int]e/s & values ( ! ,unit$ ,/ates & its ,indo-,pacific allies & directly *all5ge ! ,unit$ ,/ates economic & trade int]e/s 9 ! region4 7#b7 ,! ,unit$ ,/ates 0 a lead] dur+ negotiations = ! ,trans ,pacific ,p>tn]%ip ,agreem5t 7,,tpp7 & jo9$ elev5 o!r nations 9 ! ,asia-,pacific 9 sign+ ! agreem5t on ,febru>y #d1 #bjaf4 7#c7 ,9 ,janu>y #bjag1 ! ,unit$ ,/ates notifi$ ! o!r #aa signatories to ! ,,tpp t x did n int5d to become a p>ty to ! ,agreem5t4 ,! notification lett] to ! #aa o!r ,,tpp signatories affirm$ t 8the ,unit$ ,/ates rema9s committ$ to tak+ measures design$ to promote m effici5t m>kets & high] levels ( economic gr[?1 bo? 9 our c\ntry & ar\nd ! _w404 7#d7 ,foll[+ ! ,unit$ ,/ates =mal )drawal f ! ,,tpp1 ! #aa rema9+ signatories 7,au/ralia2 ,brunei2 ,canada2 ,*ile2 ,japan2 ,malaysia2 ,mexico2 ,new ,zeal&2 ,p]u2 ,s+apore2 & ,vietnam7 r5egotiat$ & sign$ a new ,compreh5sive & ,progressive ,agreem5t on ,trans-,pacific ,p>tn]%ip 7,,cptpp7 on ,m>* #h1 #bjah4 ,l ! ,,tpp1 ! ,,cptpp includes high-/&>d provisions to elim9ate t>iff & non-t>iff b>ri]s 9 key sectors su* z agriculture1 autos1 curr5cy1 e-comm]ce_/digital trade1 gov]nm5t procurem5t1 goods t>iffs1 intellectual prop]ty rights 7,,ipr71 inve/m5t1 work] rights1 environm5t1 rules ( orig9 7,,roo71 s]vices1 & /ate-own$ ent]prises 7,s,o,es74 ,h[ev]1 ! ,,cptpp susp5d$ c]ta9 high-/&>d provisions :i* ! ,unit$ ,/ates _h propos$ or support$4 ,unit$ ,/ates engagem5t 9 ,,tpp negotiations help$ %ape _m ( ! provisions ( ! exi/+ ,,cptpp4 ,simil>1 & updat$ v]sions ( _m ( ^! provisions are includ$ 9 ! ,unit$ ,/ates-,mexico-,canada ,agreem5t 7,,usmca71 includ+ 9 ! *apt] on te*nical b>ri]s to trade 7,,tbt74 7#e7 ,unit$ ,/ates )drawal f ! ,,tpp has und]m9$ its ability to promote ,unit$ ,/ates-l$ rules1 norms1 & /&>ds1 & has pav$ ! way = increas$ non-democratic /ate-driv5 economic & political pres5ce 9 ! ,indo-,pacific region4 #ajb4 ,/atem5t ( policy 7a7 ,9 g5]al ,x is ! policy ( ! ,unit$ ,/ates1 9 pursu+ trade lead]%ip 9 ! ,indo-,pacific region1 to proactively promote & def5d fair & op5 trade practices & to c\nt] ! use ( m]cantili/1 di/ort+1 & co]cive trade measures by actors 9 ! region1 includ+ by pursu+ objectives describ$ 9 subsection 7b74 7b7 ,objectives describ$ ,! objectives describ$ 9 ?is subsection are ! foll[+3 7#a7 ,! ,unit$ ,/ates w play a su/a9$ & long-t]m lead]%ip role 9 e/abli%+ & ensur+ an op51 rules-bas$ trad+ sy/em 9 ! ,indo-,pacific region1 includ+ ?r\gh ! foll[+3 7,a7 ,! ,unit$ ,/ates %\ld urg5tly consid] ! m]its ( negotiat+ entry into ! ,,cptpp ) improv$ /&>ds or a simil> plurilat]al trade agreem5t4 7,b7 ,! ,unit$ ,/ates %\ld urg5tly consid] ! m]its ( negotiat+ new1 high-/&>d bilat]al trade agreem5ts 9 ! region4 7,c7 ,! ,unit$ ,/ates %\ld urg5tly consid] mod]niz+ & updat+ exi/+ trade agreem5ts 9 ! region4 7#b7 ,! ,unit$ ,/ates & its allies %\ld utilize new or updat$1 high-/&>d trade agreem5ts to ma9ta9 rules-bas$ & m>ket-bas$ policies 9 ! ,indo-,pacific region to ensure1 among o!r areas-- 7,a7 free fl[ ( comm]ce2 7,b7 enhanc$ m>ket access2 7,c7 elim9ation ( t>iff & non-t>iff b>ri]s on goods1 s]vices1 agriculture1 & en]gy2 7,d7 high-/&>d provisions to protect intellectual prop]ty1 inve/m5t1 work] rights1 ! environm5t1 e-comm]ce & digital trade1 & autos2 & 7,e7 transp>5cy on rules ( orig91 /ate-own$ ent]prises1 & gov]nm5t procurem5t4 7#c7 ,! ,unit$ ,/ates memb]%ip & lead]%ip 9 negotiat+ new or updat$1 high-/&>d trade agreem5ts w ensure its economic1 te*nological1 sci5tific1 & regulatory lead]%ip 9 ! ,indo-,pacific region & ensure a compreh5sive1 rules-bas$ plat=m ?r\gh\t ! region well into ! #ba/ c5tury4 7#d7 ,! ,unit$ ,/ates memb]%ip & lead]%ip 9 new or updat$1 high-/&>d trade agreem5ts w fo/] free & reciprocal trade & op5 & integrat$ m>kets 9 ! ,indo-,pacific region1 includ+-- 7,a7 /r5g!n+1 protect+1 & div]sify+ critical supply *a9s = batt]ies1 critical m9]als1 m$ic9es1 next-g5]ation semiconductors1 telecommunications1 artificial intellig5ce1 quantum comput+1 & biote*nology & m$ical supplies2 & 7,b7 support+ ! developm5t & ma9t5ance ( advanc$ manufactur+ capacity among key regional allies to maximize trade effici5cy & supply *a9 security4 7#e7 ,! ,unit$ ,/ates lead]%ip 9 new or updat$1 high-/&>d trade agreem5ts w inspire next-g5]ation rules & be/ practices = em]g+ & high-gr[? ,indo-,pacific c\ntries t may n be memb]s ( ! ,,cptpp4 #ajc4 ,s5se ( ,congress ,x is ! s5se ( ,congress t ! implem5tation ( ! policy describ$ 9 section #ajb requires ! foll[+ actions3 7#a7 ,long-t]m competition & /rategic engagem5t 9 ! ,indo-,pacific region w require ! ,unit$ ,/ates to deeply engage ) allies & p>tn]s on trade policy 9 ! region1 includ+ ! consid]ation ( jo9+ new or updat$1 high-/&>d trade agreem5ts1 to e/abli% trade & economic /ability 9 ! mo/ vibrant economic region 9 ! _w4 ,a s5se ( urg5cy by ! ,adm9i/ration1 bip>tisan%ip 9 ,congress1 & :ole-(-gov]nm5t approa* w be requir$ to a*ieve ?is significant pivot 9 ,unit$ ,/ates trade policy4 ,imm$iate1 int5sive bip>tisan engagem5t betwe5 ! ,adm9i/ration & ,congress to develop & swiftly reau?orize & update ! ,bip>tisan ,congressional ,trade ,priorities & ,acc\ntability ,act ( #bjae is a critical /ep to provide ! ,adm9i/ration ) tools to negotiate ambiti\s new trade agreem5ts4 7#b7 ,! ,unit$ ,/ates1 ?r\gh ! lead]%ip ( ! ,(fice ( ! ,unit$ ,/ates ,trade ,repres5tative1 mu/ urg5tly coord9ate closely ) l-m9d$ c\ntries ?r\gh\t ! ,indo-,pacific region to express imm$iate int]e/ 9 new or updat$1 high-/&>d trade agreem5ts1 includ+ by ho/+ a s]ies ( summits held ?r\gh\t ! region to discuss outlay+ issues t are reflective ( a po/-p&emic global economy4 7#c7 ,! ,presid5t mu/ lead & direct ! entire executive bran*1 specifically ! ,(fice ( ! ,unit$ ,/ates ,trade ,repres5tative1 to make memb]%ip & lead]%ip 9 new or updat$1 high-/&>d trade agreem5ts a priority & assure ! allocation ( appropriate res\rces adequate to address m>ket-access b>ri]s & trade di/ortions 9 ! ,indo-,pacific region4 7#d7 ,! ,unit$ ,/ates mu/ ensure t key ,f$]al ag5cies1 l$ by ! ,(fice ( ! ,unit$ ,/ates ,trade ,repres5tative1 advance accel]at$1 bip>tisan1 frequ5t1 su/a9$1 & mean+ful collaboration & consultation ) ,congress reg>d+ a robu/ ,unit$ ,/ates trade /rategy 9 ! ,indo-,pacific region4 7#e7 ,! ,unit$ ,/ates mu/ ensure t key ,f$]al ag5cies1 l$ by ! ,(fice ( ! ,unit$ ,/ates ,trade ,repres5tative1 conduct close & accel]at$ ,indo-,pacific trade /rategy consultations ) ,congress1 ! private sector1 civil society1 univ]sities1 & academic in/itutions1 & o!r relevant /akehold]s4 7#f7 ,! ,presid5t %\ld direct ! ,(fice ( ! ,unit$ ,/ates ,trade ,repres5tative1 ! ,:ite ,h\se ,national ,security ,c\ncil1 & all relevant ,f$]al ag5cies to meet ^u reque/ ) any ,memb] ( ,congress reg>d+ ! compon5ts ( its ,indo-,pacific trade /rategy1 includ+ ! ,presid5t's int5tion to beg9 negotiations to implem5t t /rategy1 ! objectives = su* negotiations1 & any *anges 9 ! laws ( ! ,unit$ ,/ates or ! adm9i/ration ( ^? laws t may be recomm5d$ to ,congress to implem5t t /rategy4 ,! ,presid5t %\ld also direct ! ,(fice ( ! ,unit$ ,/ates ,trade ,repres5tative1 ! ,:ite ,h\se ,national ,security ,c\ncil1 & all relevant ,f$]al ag5cies to provide access to p]t95t docum5ts relat+ to any su* negotiation1 includ+ classifi$ mat]ials4 ,,ii ,report on ! long-t]m economic & trade relation%ip betwe5 ! ,unit$ ,/ates & ! ,p's ,republic ( ,*9a #bja4 ,f9d+s ,congress makes ! foll[+ f9d+s3 7#a7 ,on ,janu>y #ae1 #bjbj1 ! ,unit$ ,/ates & ! ,p's ,republic ( ,*9a 7,,prc7 sign$ a hi/oric & en=ceable agreem5t1 ! ,economic & ,trade ,agreem5t ,betwe5 ! ,unit$ ,/ates ( ,am]ica & ! ,p's ,republic ( ,*9a1 or ! 8,phase ,"o0 trade agreem5t4 ,! ,phase ,"o trade agreem5t w5t into effect on ,febru>y #ad1 #bjbj1 & requires ! ,,prc to und]take a wide range ( re=ms to facilitate a m transp>5t & equal bilat]al trad+ relation%ip 9 areas su* intellectual prop]ty1 te*nology transf]1 agriculture1 f9ancial s]vices1 & curr5cy & =eign ex*ange4 7#b7 ,! ,phase ,"o trade agreem5t includes a *apt] on 8,exp&+ ,trade01 9 :i* ! ,,prc made specific commitm5ts to import a wide range ( ,unit$ ,/ates goods & s]vices1 includ+ manufactur$ goods1 food & seafood1 agriculture1 en]gy products1 & s]vices 9 a total am\nt t exce$s ! ,,prc's annual level ( imports = ^? goods & s]vices 9 #bjag by no less ?an #bjj billion = a two-ye> p]iod f ,janu>y #a1 #bjbj1 ?r\gh ,decemb] #ca1 #bjba4 ,! ,unit$ ,/ates & ! ,,prc also /at$ a %>$ expectation t 8! trajectory ( increases0 9 ,*9a's pur*ases ( ,unit$ ,/ates goods 9 ea* ( ^! categories w\ld cont9ue 9 cal5d> ye>s #bjbb ?r\gh #bjbe4 7#c7 ,publicly available trade data %[ t ! ,,prc has made significant progress 9 pur*as+ ,unit$ ,/ates products )9 ! agriculture sector1 b is f> beh9d its agre$ ^u ye>-end pur*as+ t>gets 9 en]gy1 manufactur+1 & s]vices4 7#d7 ,! ,phase ,"o trade agreem5t features a *apt] on 8,bilat]al ,evaluation & ,dispute ,resolution0 t e/abli%es a process to resolve disputes 9 a fair & prompt mann] & creates an av5ue to conduct regul> bilat]al meet+s at ! pr9cipal & work+ levels4 7#e7 ,! ,phase ,"o trade agreem5t repres5ts an important & concrete /ep t[>d a m balanc$ economic relation%ip betwe5 ! ,unit$ ,/ates & ! ,,prc b sub/antially m is ne$$ to address sy/emic problems 9 our bilat]al trad+ relation%ip4 ,important rema9+ issues include ! ,,prc's p]si/5t !ft ( ,unit$ ,/ates intellectual prop]ty rights1 its m>ket access policies t dep5d on =c$ te*nology transf]s & discrim9atory lic5s+ practices1 & its support = /ate-own$ ent]prises ) m>ket-di/ort+ & ,_w ,trade ,organization 7,,wto7-inconsi/5t subsidies4 #bjb4 ,s5se ( ,congress ,x is ! s5se ( ,congress t-- 7#a7 ! ,unit$ ,/ates %\ld successfully & fully implem5t ! ,phase ,"o trade agreem5t1 ensur+ t ! ,,prc fully complies ) its /at$ commitm5ts bo? to make legal & regulatory *anges 9 v>i\s sectors & to pur*ase additional ,unit$ ,/ates goods & s]vices2 7#b7 ! ,(fice ( ! ,unit$ ,/ates ,trade ,repres5tative %\ld take exp$it$ & concrete /eps t[>d ?or\gh consultation & coord9ation ) ,congress & key ,unit$ ,/ates private sector /akehold]s :olly consi/5t ) ! _s & lett] ( ! law z prescrib$ "u ! ,bip>tisan ,congressional ,trade ,priorities & ,acc\ntability ,act ( #bjae reg>d+ implem5tation ( ! ,phase ,"o trade agreem5t & any fur!r trade negotiations ) ,*9a2 7#c7 ! ,unit$ ,/ates ,gov]nm5t %\ld analyze all positive & negative effects on ! ,unit$ ,/ates economy ( ! curr5t t>iffs 9 place aga9/ ! ,,prc "u section #cja ( ! ,trade ,act ( #aigd1 includ+ ! effects on ,unit$ ,/ates work]s1 bus9esses1 & consum]s & an analysis ( ! b5efits ( su* t>iffs provid+ suffici5t trade lev]age on ! ,,prc1 9 comp>ison to ^! t>iffs' h>m to ! ,unit$ ,/ates economy2 7#d7 consi/5t ) su* analysis1 ! ,unit$ ,/ates ,gov]nm5t %\ld imm$iately modify su* t>iffs to ensure t !y meet ! int5t ( ! /atute & provide lev]age on ,*9a )\t h>m+ ! ,unit$ ,/ates economy2 7#e7 ! ,(fice ( ! ,unit$ ,/ates ,trade ,repres5tative %\ld articulate a long-t]m trade & economic plan ) ! ,,prc1 :i* may include propos$ new en=cem5t tools to address ! ,,prc's ongo+ economic & /ructural *all5ges1 includ+ ! ,,prc's use ( massive indu/rial subsidies t are inconsi/5t ) ,,wto norms & rules & create global price di/ortions 9 critical supply *a9s1 bilat]al engagem5t ) ! ,,prc to obta9 *anges to ! ,,prc's policies1 & work+ ) allies to pressure ! ,,prc on ^! same issues2 7#f7 ! ,(fice ( ! ,unit$ ,/ates ,trade ,repres5tative %\ld take exp$it$ & concrete /eps t[>d bett] consultation & coord9ation ) ,congress & key ,unit$ ,/ates private sector actors reg>d+ ! draft+ ( its compreh5sive report on ! long-t]m economic & trade relation%ip betwe5 ! ,unit$ ,/ates & ! ,,prc2 & 7#g7 ef=ts to en=ce ! ,phase ,"o trade agreem5t %\ld n delay initiatives to address o!r issues 9 ! trade relation%ip1 especially long/&+1 sy/emic issues t disadvantage ,unit$ ,/ates companies or injure ,unit$ ,/ates int]e/s1 t h be5 id5tifi$ = negotiation by previ\s adm9i/rations1 b t 7 n address$ 9 ! ,phase ,"o trade agreem5t4 #bjc4 ,report 7a7 ,9 g5]al ,n lat] ?an #fj days aft] ! date ( ! enactm5t ( ?is ,act1 & annually !reaft]1 ! ,unit$ ,/ates ,trade ,repres5tative1 9 coord9ation ) ! heads ( o!r relevant ,f$]al ag5cies1 %all submit to ,congress a report t-- 7#a7 describes progress t[>d address+ ! issues id5tifi$ 9 ,trade ,repres5tative's report titl$1 8,f9d+s ( ! ,inve/igations into ,*9a's ,acts1 ,policies1 & ,practices ,relat$ to ,te*nology ,transf]1 ,intellectual ,prop]ty1 & ,innovation "u ,section #cja ( ! ,trade ,act ( #aigd01 dat$ ,m>* #bb1 #bjah2 7#b7 compreh5sively reviews curr5t t>iffs 9 place aga9/ ! ,,prc "u section #cja ( ! ,trade ,act ( #aigd-- 7,a7 to assess :e!r su* t>iffs cont9ue to meet ! requirem5ts ( su* section & provide lev]age to enc\rage ! ,,prc to *ange its unfair practices )\t undue h>m to ! ,unit$ ,/ates economy2 & 7,b7 to recomm5d removal ( su* t>iffs t h>m ,unit$ ,/ates indu/ry competitiv5ess 9 :i* data does n cle>ly demon/rate t ! t>iffs h sub/antially & directly alleviat$ discrim9atory1 re/rictive1 or burd5some ,,prc trade practices1 or :]e any b5efits t c be cle>ly l9k$ to ! t>iffs are less sub/antial ?an ! co/s ! t>iffs h impos$ on ,unit$ ,/ates entities2 7#c7 evaluates ! ,,prc's compliance ) its ,phase ,"o trade agreem5t commitm5ts & id5tifies ^? provisions 9 ! agreem5t t h yet to be implem5t$2 7#d7 li/s & expla9s propos$ new en=cem5t tools t w address & compel ! ,,prc to complete /ructural re=ms to its economic & trade regimes2 7#e7 articulates new m>ket access objectives ) respect to ! ,,prc2 7#f7 id5tifies key ,unit$ ,/ates goods & s]vices t h ! ability to provide long-t]m b5efits to ! ,,prc's economic gr[?1 includ+ en]gy1 c>bon capture1 agricultural goods & s]vices among o!r sectors1 )\t imp$+ ,unit$ ,/ates national security int]e/s2 & 7#g7 id5tifies key ,,prc goods & s]vices t h ! ability to provide long-t]m b5efits to ! ,unit$ ,/ates economic gr[?1 includ+ t\rism & education goods & s]vices among o!r sectors4 7b7 ,=m ,! report requir$ by subsection 7a7 %all be submitt$ 9 unclassifi$ =m b may include a classifi$ annex4