[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 1869 Introduced in Senate (IS)]







106th CONGRESS
  1st Session
                                S. 1869

    To authorize the negotiation of a Free Trade Agreement with the 
     Republic of Korea, and to provide for expedited congressional 
                  consideration of such an agreement.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            November 5, 1999

  Mr. Baucus introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
    To authorize the negotiation of a Free Trade Agreement with the 
     Republic of Korea, and to provide for expedited congressional 
                  consideration of such an agreement.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``United States-Republic of Korea Free 
Trade Agreement Act of 1999''.

 SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) Economic growth in the United States has been 
        considerably enhanced by bilateral agreements to lower barriers 
        to United States exports.
            (2) Increased trade and economic growth are not ends in 
        themselves. Trade and economic growth should enhance the 
        welfare and quality of life of all citizens of the United 
        States and the Republic of Korea.
            (3) Countries that open their domestic markets, remove 
        barriers to foreign direct investment, and promote free 
        enterprise, empower their citizens to alleviate poverty and 
        maintain social and environmental values.
            (4) The Republic of Korea has participated fully in World 
        Trade Organization programs and policies which promote open 
        trade.
            (5) At the 1996 World Trade Organization Ministerial in 
        Singapore, the Republic of Korea reaffirmed its commitment to 
        internationally recognized core labor standards.

SEC. 3. UNITED STATES POLICY WITH RESPECT TO TRADE.

    It is the policy of the United States to seek the elimination of 
tariff and nontariff barriers in order to achieve more open market 
access, on a reciprocal basis, to internationally traded goods and 
service, through bilateral free trade agreements with like-minded 
countries. Such agreements should address the following:
            (1) National treatment and market access for agricultural 
        and industrial products.
            (2) Rules for determining which goods originate in the 
        territory of the United States and the Republic of Korea.
            (3) Customs procedures that facilitate trade and collection 
        of trade statistics, while ensuring the validity of claims for 
        preferential treatment.
            (4) Science-based, nondiscriminatory sanitary, 
        phytosanitary, and technical standards, including voluntary 
        standards.
            (5) Safeguard provisions for industries that have sustained 
        or are threatened with serious economic injury from import 
        surges.
            (6) Government procurement procedures.
            (7) National treatment and rights of establishment for 
        foreign direct investors.
            (8) National treatment and market access for traded 
        services, including consumption of services abroad, cross-
        border provision of services, rights of establishment of 
        commercial presence, and the movement of natural persons.
            (9) Protection of intellectual property.
            (10) Transparency of legal and regulatory regimes.
            (11) Measures to promote electronic commerce.
            (12) Trade-related environmental measures, and the 
        potential for both favorable and adverse environmental impacts.
            (13) Adherence to internationally recognized core labor 
        standards.

SEC. 4. NEGOTIATION OF A FREE TRADE AGREEMENT WITH THE REPUBLIC OF 
              KOREA.

    Subject to section 5, the President is authorized to enter into an 
agreement with the Republic of Korea consistent with the policy 
described in section 3, and the provisions of section 151(c) of the 
Trade Act of 1974 (19 U.S.C. 2191(c)) shall apply with respect to a 
bill to implement such agreement.

SEC. 5. INTRODUCTION AND FAST TRACK CONSIDERATION OF IMPLEMENTING BILL.

    (a) Introduction in House of Representatives and Senate.--When the 
President submits to Congress a bill to implement a trade agreement 
described in section 4, the bill shall be introduced (by request) in 
the House of Representatives and the Senate as described in section 
151(c) of the Trade Act of 1974 (19 U.S.C. 2191(c)).
    (b) Permissible Content in Implementing Legislation.--A bill to 
implement a trade agreement described in section 4 shall contain 
provisions that are necessary to implement the trade agreement, and may 
include trade-related labor and environmental protection standards.
    (c) Applicability of Fast Track Procedures.--Section 151 of the 
Trade Act of 1974 (19 U.S.C. 2191) is amended--
            (1) in subsection (b)(1), by inserting ``section 5 of the   
        United States-Republic of Korea Free Trade Agreement Act of 
        1999,'' after ``the Omnibus Trade and Competitiveness Act of 
        1988,''; and
            (2) in subsection (c)(1), by inserting ``or under section 5 
        of the United States-Republic of Korea Free Trade Agreement Act 
        of 1999,'' after ``the Uruguay Round Agreements Act,''.
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