,,ii #aahth ,,congress #ast ,session ,s4 #ddf ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,february #ae1 #bjbc,mr4 ,coons 7for himself and ,mr4 ,young7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to provide the ,president with authority to enter into certain plurilateral trade agreements with benefits only applying to signatories of those agreements1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,trading ,system ,preservation ,act4 #b4 ,findings2 sense of ,congress 7a7 ,findings ,congress makes the following findings3 7#a7 ,the ,world ,trade ,organization 7in this section referred to as the ,,wto7 was established to be a forum for multilateral trade negotiations between member countries4 7#b7 ,scant negotiating progress has been made at the ,,wto since its creation in #aiie1 including through the failed ,doha ,round1 which was initiated in #bjja4 7#c7 ,the inability to reach negotiated outcomes at the ,,wto has pushed the multilateral trading system to the brink of irrelevance and created incentives for members of the ,,wto to pursue their trade policy objectives through litigation rather than negotiation4 7#d7 ,that lack of negotiating progress can be generally attributed to a small minority of ,,wto members that1 for a variety of reasons1 have exercised an effective veto over negotiations1 effectively prohibiting agreement on new rules to discipline discriminatory practices4 7#e7 ,most favored nation 7in this section referred to as ,,mfn7 obligations1 strictly defined1 which appear to generally require equal treatment of all ,,wto members1 make it difficult to achieve high-quality plurilateral agreements because of concerns about free ridership by ,,wto members who are not party to those agreements4 7b7 ,sense of ,congress ,it is the sense of ,congress that-- 7#a7 the ,,wto system affords a variety of flexibilities for ,,wto members to negotiate and conclude plurilateral agreements without extending the benefits negotiated therein to the entire membership of the ,,wto on an ,,mfn basis2 7#b7 to reinvigorate the multilateral trading system and advance its trade interests1 the ,united ,states should exercise its rights to negotiate new sectoral trade agreements with other interested ,,wto members on a plurilateral basis2 7#c7 to facilitate those negotiations1 enable a high level of ambition1 and avoid lowest common denominator outcomes1 any new benefits negotiated under those new agreements should be limited to the participants and not extended to the entire membership of the ,,wto2 and 7#d7 pursuing plurilateral agreements that are not subject to unconditional ,,mfn will enable the ,united ,states to work with like-minded countries within the framework of the ,,wto to develop new rules to discipline discriminatory1 trade distorting1 and non-market practices1 restore the relevance of the multilateral trading system1 and expand trade to the benefit of the citizens of the ,united ,states4 #c4 ,briefing on plurilateral agreements with benefits applying only to signatories of those agreements 7a7 ,in general ,not later than #abj days after the date of the enactment of this ,act1 the ,united ,states ,trade ,representative shall provide to the ,committee on ,finance of the ,senate and the ,committee on ,ways and ,means of the ,house of ,representatives a classified briefing on the feasibility and advisability of pursuing and adopting covered plurilateral trade agreements4 7b7 ,elements ,the briefing required under subsection 7a7 shall include a discussion of the opportunities1 obstacles1 feasibility1 and advisability of negotiating and adopting covered plurilateral trade agreements4 7c7 ,definitions ,in this section3 7#a7 ,covered plurilateral trade agreement ,the term covered plurilateral trade agreement means a sector-specific agreement within the framework of the ,world ,trade ,organization involving foreign countries or foreign territories that form a subset of the members of the ,world ,trade ,organization that does not extend benefits on a most favored nation basis4 7#b7 ,most favored nation ,the term most favored nation1 with respect to requirements relating to a trade agreement1 means requirements under the ,world ,trade ,organization for nondiscriminatory trade treatment among all parties to the agreement4 #d4 ,negotiating and trade agreements authority for certain plurilateral agreements with benefits applying only to signatories of those agreements 7a7 ,initiation of negotiations 7#a7 ,in general ,in order to enhance the economic well-being of the ,united ,states1 the ,president shall initiate negotiations for a covered plurilateral trade agreement under this section when the ,president determines that it is in the national interest to do so4 7#b7 ,limitation ,the ,president may not initiate negotiations for a covered plurilateral trade agreement under this section until the date on which the ,united ,states ,trade ,representative provides the briefing required by section #c7;a74 7b7 ,authority for agreements 7#a7 ,in general ,to strengthen the economic competitiveness of the ,united ,states by improving trade relations with countries similarly interested1 the ,president may enter into covered plurilateral trade agreements in a sector of the economy specified in subsection 7d74 7#b7 ,termination of authority ,the authority under paragraph 7#a7 terminates on ,july #a1 #bjbh4 7c7 ,modifications permitted 7#a7 ,in general ,subject to paragraph 7#b71 the ,president may proclaim such modification or continuance of any existing duty or continuance of existing duty-free or excise treatment as the ,president determines to be required or appropriate to carry out an agreement entered into under subsection 7b74 7#b7 ,limitation ,substantial modifications to1 or substantial additional provisions of1 an agreement entered into after ,july #a1 #bjbh1 are not covered by the authority under paragraph 7#a74 7d7 ,sectors of the economy specified ,a sector of the economy specified in this subsection is any of the following sectors3 7#a7 ,e-commerce and digital services4 7#b7 ,pharmaceuticals and medical countermeasures4 7#c7 ,environmental goods4 7#d7 ,services4 7#e7 ,any sector that is subject to substantial interference by a foreign government1 including through excessive subsidies or state-owned enterprises4 7e7 ,consultation with and notification to ,congress ,the ,president shall consult with ,congress regarding1 and notify ,congress of1 the intention of the ,president to enter into an agreement under subsection 7b7 or to make a proclamation under subsection 7c74 7f7 ,participating countries 7#a7 ,in general ,subject to paragraph 7#b71 the ,president may determine which foreign countries or foreign territories to negotiate with toward an agreement under this section and1 after the implementation of any such agreement1 the ,president may1 as conditions warrant1 identify and engage in negotiations with additional countries or territories that wish to accede to the agreement4 7#b7 ,non-market economy country 7,a7 ,in general ,the ,president may not negotiate an agreement under this section with a foreign country or foreign territory determined to be a non-market economy country pursuant to section #gga7ah7 of the ,tariff ,act of #aicj 7#ai ,u4,s4,c4 #afgg7ah774 7,b7 ,after entry into force ,a foreign country or foreign territory described in subparagraph 7,a7 may accede to a completed agreement negotiated pursuant to this section after entry into force of the agreement if a joint resolution is first enacted approving the accession of that country to the agreement4 7g7 ,bills qualifying for trade authorities procedures 7#a7 ,implementing bills 7,a7 ,in general ,the provisions of section #aea of the ,trade ,act of #aigd 7#ai ,u4,s4,c4 #baia7 apply to a bill of either ,house of ,congress which contains provisions described in subparagraph 7,b7 to the same extent as such section #aea applies to implementing bills under that section4 ,a bill to which this paragraph applies shall hereafter in this section be referred to as an implementing bill4 7,b7 ,provisions specified ,the provisions described in this subparagraph are-- 7i7 a provision approving a trade agreement entered into under this section and approving the statement of administrative action1 if any1 proposed to implement such trade agreement2 and 7ii7 if changes in existing laws or new statutory authority are required to implement such trade agreement or agreements1 only such provisions as are strictly necessary or appropriate to implement such trade agreement or agreements1 either repealing or amending existing laws or providing new statutory authority4 7#b7 ,deadline for submission of bill ,the procedures under paragraph 7#a7 apply to implementing bills submitted with respect to trade agreements entered into under this section before ,july #a1 #bjbh4 7h7 ,relationship to ,bipartisan ,congressional ,trade ,priorities and ,accountability ,act of #bjae ,an agreement under this section shall not enter into force with respect to the ,united ,states and an implementing bill shall not qualify for trade authorities procedures under subsection 7g71 including an agreement that does not require changes to ,united ,states law or an implementing bill in connection therewith1 unless the following requirements under the ,bipartisan ,congressional ,trade ,priorities and ,accountability ,act of #bjae 7#ai ,u4,s4,c4 #dbja et seq47 are carried out with respect to that agreement or implementing bill to the same extent as would be required of an agreement entered into under section #ajc7;b7 of that ,act 7#ai ,u4,s4,c4 #dbjb7;b771 notwithstanding the expiration of authority to enter into an agreement under such section #ajc7;b73 7#a7 ,the trade negotiating objectives under section #ajb of that ,act 7#ai ,u4,s4,c4 #dbja74 7#b7 ,the congressional oversight and consultation requirements under section #ajd of that ,act 7#ai ,u4,s4,c4 #dbjc74 7#c7 ,the notification1 consultation1 and reporting requirements under section #aje of that ,act 7#ai ,u4,s4,c4 #dbjd74 7#d7 ,the implementation procedures under section #ajf of that ,act 7#ai ,u4,s4,c4 #dbje74 7i7 ,definitions ,in this section3 7#a7 ,covered plurilateral trade agreement ,the term covered plurilateral trade agreement means a sector-specific agreement within the framework of the ,world ,trade ,organization involving foreign countries or foreign territories that form a subset of the members of the ,world ,trade ,organization that does not extend benefits on a most favored nation basis4 7#b7 ,most favored nation ,the term most favored nation1 with respect to requirements relating to a trade agreement1 means requirements under the ,world ,trade ,organization for nondiscriminatory trade treatment among all parties to the agreement4