To extend trade promotion authority.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Trade Promotion Authority Extension 
and Enhancement Act of 2007''.

SEC. 2. EXTENSION OF TRADE PROMOTION AUTHORITY.

    Section 2103 of the Bipartisan Trade Promotion Authority Act of 
2002 (19 U.S.C. 3803) is amended--
            (1) in subsection (a)(1)(A)--
                    (A) in clause (i), by striking ``2005'' and 
                inserting ``2011''; and
                    (B) by amending clause (ii) to read as follows:
                            ``(ii) July 1, 2016, and July 1 of each 
                        fifth calendar year thereafter, subject to 
                        subsection (c).'';
            (2) in subsection (b)(1)(C)--
                    (A) in clause (i), by striking ``2005'' and 
                inserting ``2011''; and
                    (B) by amending clause (ii) to read as follows:
                            ``(ii) July 1, 2016, and July 1 of each 
                        fifth calendar year thereafter, subject to 
                        subsection (c).''; and
            (3) in subsection (c)--
                    (A) in paragraph (1)--
                            (i) in subparagraph (A), by striking 
                        ``2005'' and inserting ``2011''; and
                            (ii) by amending subparagraph (B) to read 
                        as follows:
                    ``(B) the trade authorities procedures shall be 
                extended to implementing bills submitted with respect 
                to trade agreements entered into under subsection (b) 
                during the 5-year period beginning on July 1, 2011, and 
                during each 5-year period thereafter, unless the 
                Congress adopts an extension disapproval resolution 
                under paragraph (5) after April 1, and before July 1, 
                of the year in which any such 5-year period begins.
        If an extension disapproval resolution is adopted during the 
        period specified in subparagraph (B), then trade authorities 
        procedures shall not be extended with respect to trade 
        agreements entered into during any 5-year period described in 
        subsection (b) that begins on or after the date on which the 
        resolution is adopted.'';
                    (B) in paragraph (2)--
                            (i) by striking ``If the President'' and 
                        all that follows through ``extension,'' and 
                        inserting ``The President shall submit to the 
                        Congress, not later than April 1, 2011, and not 
                        later than April 1 of each fifth year 
                        thereafter, a written report with respect to 
                        the extension of trade authorities procedures 
                        during the 5-year period beginning on July 1 of 
                        the year in which the report is submitted,'' ; 
                        and
                            (ii) by adding at the end the following 
                        flush sentence:
        ``No report under this paragraph is required after a 
        disapproval resolution is adopted under paragraph (5).'';
                    (C) by amending paragraph (3) to read as follows:
            ``(3) Other reports to congress.--
                    ``(A) Report by the advisory committee.--the 
                Advisory Committee for Trade Policy and Negotiations 
                established under section 135 of the trade Act of 1974 
                shall, not later than June 1, 2011, and not later than 
                June 1 of each fifth year thereafter, a written report 
                that contains--
                            ``(i) its views regarding the progress that 
                        has been made in negotiations to achieve the 
                        purposes, policies, priorities, and objectives 
                        of this title; and
                            ``(ii) a statement of its views, and the 
                        reasons therefor, regarding whether the trade 
                        authorities procedures should be extended for 
                        the succeeding 5-year period under paragraph 
                        (1).
                    ``(B) Report by itc.--The International Trade 
                Commission shall submit to the Congress, not later than 
                June 1, 2011, and not later than June 1 of each fifth 
                year thereafter, a written report that contains a 
                review and analysis of the economic impact on the 
                United States of all trade agreements implemented on or 
                after July 1 of the fifth preceding calendar year.
                    ``(C) Termination of reporting requirement.--No 
                report under subparagraph (A) or (B) is required after 
                a disapproval resolution is adopted under paragraph 
                (5).''; and
                    (D) in paragraph (5)--
                            (i) by striking ``(5)'' and all that 
                        follows through the end of subparagraph (A) and 
                        inserting the following:
            ``(5) Extension disapproval resolutions.--(A) For purposes 
        of paragraph (1), the term `extension disapproval resolution' 
        means a concurrent resolution of Congress, the sole matter 
        after the resolving clause of which is as follows: `That the 
        Congress disapproves the extension of trade authorities 
        procedures under the Bipartisan Trade Promotion Authority Act 
        of 2002 to any implementing bill submitted with respect to any 
        trade agreement entered into under section 2103(b) of that Act 
        on or after July 1, ___.', with the blank space being filled 
        with the year that begins the applicable 5-year period 
        described in paragraph (1)(B).''; and
                            (ii) in subparagraph (D)(iii), by striking 
                        ``after June 30, 2005'' and inserting ``during 
                        the period beginning on July 1 of a year that 
                        begins a 5-year period described in paragraph 
                        (1)(B) and ending on April 1 of the last year 
                        of that 5-year period''.

Summary: Trade Promotion Authority Extension and Enhancement Act of 2007 - Amends the Bipartisan Trade Promotion Authority Act of 2002 to extend the President's authority until July 1, 2011 to enter into trade agreements with foreign countries whose tariff and nontariff policies unduly burden or restrict US trade or adversely affects the US economy. Extends trade authorities procedures to bills implementing trade agreements entered into during the five-year period beginning on July 1, 2011, and during each five-year period thereafter, unless Congress disapproves after April 1, and before July 1, of the year in which any such five-year period begins.