(B) a statement of its views, and the rea-
sons therefor, regarding whether the extension
requested under paragraph (2) should be ap-
proved or disapproved.
(4) REPORTS
MAY
BE
CLASSIFIED.—The re-
ports submitted to the Congress under paragraphs
(2) and (3), or any portion of such reports, may be
classified to the extent the President determines ap-
propriate.
(5) EXTENSION DISAPPROVAL RESOLUTIONS.—
(A) For purposes of paragraph (1), the term ‘‘exten-
sion disapproval resolution’’ means a resolution of
either House of the Congress, the sole matter after
the resolving clause of which is as follows: ‘‘That the
ll disapproves the request of the President for
the extension, under section 3(c)(1)(B)(i) of the
Trade Promotion Authority Act of 2001, of the
trade authorities procedures under that Act to any
implementing bill submitted with respect to any
trade agreement entered into under section 3(b) of
that Act after June 30, 2005.’’, with the blank space
being filled with the name of the resolving House of
the Congress.
(B) Extension disapproval resolutions—
(i) may be introduced in either House of
the Congress by any member of such House;
and
(ii) shall be referred, in the House of Rep-
resentatives, to the Committee on Ways and
Means and, in addition, to the Committee on
Rules.
(C) The provisions of sections 152(d) and (e) of
the Trade Act of 1974 (19 U.S.C. 2192(d) and (e))
(relating to the floor consideration of certain resolu-
tions in the House and Senate) apply to extension
disapproval resolutions.
(D) It is not in order for—
(i) the Senate to consider any extension
disapproval resolution not reported by the Com-
mittee on Finance;
(ii) the House of Representatives to con-
sider any extension disapproval resolution not
reported by the Committee on Ways and Means
and, in addition, by the Committee on Rules; or
(iii) either House of the Congress to con-
sider an extension disapproval resolution after
June 30, 2005.
(d) COMMENCEMENT OF NEGOTIATIONS.—In order
to contribute to the continued economic expansion of the
United States, the President shall commence negotiations
covering tariff and nontariff barriers affecting any indus-
try, product, or service sector, and to expand existing sec-
toral agreements to countries that are not parties to those
agreements, in cases where the President determines that
such negotiations are feasible and timely and would ben-
efit the United States. Such sectors include agriculture,
commercial services, intellectual property rights, industrial
and capital goods, government procurement, information
technology products, environmental technology and serv-
ices, medical equipment and services, civil aircraft, and in-
frastructure products.
SEC. 4. CONSULTATIONS AND ASSESSMENT.
(a) NOTICE AND CONSULTATION BEFORE NEGOTIA-
TION.—
(1) IN GENERAL.—The President, with respect
to any agreement that is subject to the provisions of
section 3(b), shall—
(A) provide, at least 90 calendar days be-
fore initiating negotiations, written notice to the
Congress of the President’s intention to enter
into the negotiations and set forth therein the
date the President intends to initiate such nego-
tiations, the specific United States objectives
for the negotiations, and whether the President
intends to seek an agreement, or changes to an
existing agreement; and
(B) before and after submission of the no-
tice, consult regarding the negotiations with the
Committee on Finance of the Senate and the
Committee on Ways and Means of the House
of Representatives and such other committees
of the House and Senate as the President
deems appropriate.
(2) CONSULTATIONS
REGARDING
NEGOTIA-
TIONS ON CERTAIN OBJECTIVES.—
(A) CONSULTATION.—In addition to the
requirements set forth in paragraph (1), before
initiating negotiations with respect to a trade
agreement subject to section 3(b) where the
subject matter of such negotiations includes any
issue to which section 2(c) applies, the Presi-
dent shall consult with the Committee on Ways
and Means of the House of Representatives and
the Committee on Finance of the Senate and
with the appropriate advisory groups estab-
lished under section 135 of the Trade Act of
1974 with respect to such negotiations.
(B) SCOPE.—The consultations described
in subparagraph (A) shall concern how the ne-
gotiation will address the issue identified in a
manner that is directly related to trade, is con-
sistent with the sovereignty of the United
States, is trade expanding and not protectionist,
and does not affect any country’s ability to
make changes to its laws that are consistent
with sound macroeconomic development.
(3) 
NEGOTIATIONS
REGARDING
AGRI-
CULTURE.—Before initiating negotiations the sub-
ject matter of which is directly related to the subject
matter under section 2(b)(6)(A)(i) with any country,
the President shall assess whether United States
tariffs on agricultural products that were bound
under the Uruguay Round Agreements are lower
than the tariffs bound by that country. In addition,
the President shall consider whether the tariff levels
bound and applied throughout the world with respect
to imports from the United States are higher than
United States tariffs and whether the negotiation
provides an opportunity to address any such dis-
parity. The President shall consult with the Com-
mittee on Ways and Means and the Committee on
Agriculture of the House of Representatives and the
Committee on Finance and the Committee on Agri-
culture, Nutrition, and Forestry of the Senate con-
cerning the results of the assessment, whether it is
appropriate for the United States to agree to further
tariff reductions based on the conclusions reached in
the assessment, and how all applicable negotiating
objectives will be met.
(b) CONSULTATION
WITH
CONGRESS
BEFORE
AGREEMENTS ENTERED INTO.—
(1) CONSULTATION.—Before entering into any
trade agreement under section 3(b), the President
shall consult with—
(A) the Committee on Ways and Means of
the House of Representatives and the Com-
mittee on Finance of the Senate; and
(B) each other committee of the House
and the Senate, and each joint committee of the
Congress, which has jurisdiction over legislation
involving subject matters which would be af-
fected by the trade agreement.
(2) SCOPE.—The consultation described in
paragraph (1) shall include consultation with respect
to—
(A) the nature of the agreement;
(B) how and to what extent the agreement
will achieve the applicable purposes, policies,
and objectives of this Act; and
(C) the implementation of the agreement
under section 5, including the general effect of
the agreement on existing laws.
(c) ADVISORY COMMITTEE REPORTS.—The report
required under section 135(e)(1) of the Trade Act of 1974
regarding any trade agreement entered into under section
3(a) or (b) of this Act shall be provided to the President,
the Congress, and the United States Trade Representative
not later than 30 days after the date on which the Presi-
dent notifies the Congress under section 3(a)(1) or
5(a)(1)(A) of the President’s intention to enter into the
agreement.
(d) ITC ASSESSMENT.—
(1) IN GENERAL.—The President, at least 90
calendar days before the day on which the President
enters into a trade agreement under section 103(b),
shall provide the International Trade Commission
(referred to in this subsection as ‘‘the Commission’’)
with the details of the agreement as it exists at that
time and request the Commission to prepare and
submit an assessment of the agreement as described
in paragraph (2). Between the time the President
makes the request under this paragraph and the
time the Commission submits the assessment, the
President shall keep the Commission current with
respect to the details of the agreement.
(2) ITC ASSESSMENT.—Not later than 90 cal-
endar days after the President enters into the agree-
ment, the Commission shall submit to the President
and the Congress a report assessing the likely im-
pact of the agreement on the United States economy
as a whole and on specific industry sectors, includ-
ing the impact the agreement will have on the gross
domestic product, exports and imports, aggregate
employment and employment opportunities, the pro-
duction, employment, and competitive position of in-
dustries likely to be significantly affected by the
agreement, and the interests of United States con-
sumers.
(3) REVIEW OF EMPIRICAL LITERATURE.—In
preparing the assessment, the Commission shall re-
view available economic assessments regarding the
agreement, including literature regarding any sub-
stantially equivalent proposed agreement, and shall
provide in its assessment a description of the anal-
yses used and conclusions drawn in such literature,
and a discussion of areas of consensus and diver-
gence between the various analyses and conclusions,
including those of the Commission regarding the
agreement.
SEC. 5. IMPLEMENTATION OF TRADE AGREEMENTS.
(a) IN GENERAL.—
(1) NOTIFICATION
AND
SUBMISSION.—Any
agreement entered into under section 3(b) shall
enter into force with respect to the United States
if (and only if)—
(A) the President, at least 90 calendar
days before the day on which the President en-
ters into the trade agreement, notifies the
House of Representatives and the Senate of the
President’s intention to enter into the agree-
ment, and promptly thereafter publishes notice
of such intention in the Federal Register;
(B) within 60 days after entering into the
agreement, the President submits to the Con-
gress a description of those changes to existing
laws that the President considers would be re-
quired in order to bring the United States into
compliance with the agreement;
(C) after entering into the agreement, the
President submits to the Congress a copy of the
final legal text of the agreement, together
with—
(i) a draft of an implementing bill de-
scribed in section 3(b)(3);
(ii) a statement of any administrative
action proposed to implement the trade
agreement; and
(iii) the supporting information de-
scribed in paragraph (2); and
(D) the implementing bill is enacted into
law.
(2) SUPPORTING
INFORMATION.—The sup-
porting information required under paragraph
(1)(C)(iii) consists of—
(A) an explanation as to how the imple-
menting bill and proposed administrative action
will change or affect existing law; and
(B) a statement—
(i) asserting that the agreement
makes progress in achieving the applicable
purposes, policies, and objectives of this
Act; and
(ii) setting forth the reasons of the
President regarding—
(I) how and to what extent the
agreement makes progress in achiev-