(a) In General- Not later than 2 years after the date of the enactment of this Act, 5 years after the date of the enactment of this Act, and every 5 years thereafter, the International Trade Commission shall submit a report to Congress on each free trade agreement in force with respect to the United States. The report shall, with respect to each free trade agreement, contain an analysis and assessment of the analysis and predictions made by the International Trade Commission, the United States Trade Representative, and other Federal agencies, before implementation of the agreement and actual results of the agreement on the United States economy.
(b) Contents of Report- Each report required by subsection (a) shall contain the following:
(1) With respect to the United States and each country that is a party to a free trade agreement, an assessment and quantitative analysis of how each agreement--
(A) is fostering economic growth;
(B) is improving living standards;
(C) is helping create jobs; and
(D) is reducing or eliminating barriers to trade and investment.
(2) An assessment and quantitative analysis of how each agreement is meeting the specific objectives and goals set out in connection with the implementation of that agreement, the impact of the agreement on the United States economy as a whole, and on specific industry sectors, including the impact the agreement is having on--
(A) the gross domestic product;
(B) exports and imports;
(C) aggregate employment, and competitive positions of industries;
(D) United States consumers; and
(E) the overall competitiveness of the United States.
(3) An assessment and quantitative analysis of how each agreement is meeting the goals and objectives for the agreement on a sector-by-sector basis, including--
(A) trade in goods;
(B) customs matters, rules or origin, and enforcement cooperation;
(C) sanitary and phytosanitary measures;
(D) intellectual property rights;
(E) trade in services;
(F) electronic commerce;
(G) government procurement;
(H) transparency, anti-corruption; and regulatory reform; and
(I) any other issues with respect to which the International Trade Commission submitted a report under section 2104(f) of the Bipartisan Trade Promotion Authority Act of 2002.
(4) A summary of how each country that is a party to an agreement has changed its labor and environmental laws since entry into force of the agreement.
(5) An analysis of whether the agreement is making progress in achieving the applicable purposes, policies, priorities, and objectives of the Bipartisan Trade Promotion Authority Act of 2002.
U.S. Congress - Text of S.2222 as Introduced in Senate Trade Agreement Assessment Act
