Us Code § 4405 - Trade Enforcement Trust Fund
Full text of Us Code United States Code § 4405 — Trade Enforcement Trust Fund, with citation guidance and answers to common questions.
§ 4405. Trade Enforcement Trust Fund
(a) Establishment
There is established in the Treasury of the United States a trust fund to be known as the Trade Enforcement Trust Fund (in this section referred to as the "Trust Fund"), consisting of amounts transferred to the Trust Fund under subsection (b) and any amounts that may be credited to the Trust Fund under subsection (c).
(b) Transfer of amounts
(1) In general
The Secretary of the Treasury shall transfer to the Trust Fund, from the general fund of the Treasury, for each fiscal year that begins on or after February 24, 2016, through fiscal year 2026, an amount equal to $15,000,000 (or a lesser amount as required pursuant to paragraph (2)).
(2) Limitation
The total amount in the Trust Fund at any time may not exceed $30,000,000.
(3) Frequency of transfers
The Secretary shall transfer amounts required to be transferred to the Trust Fund under paragraph (1) not less frequently than quarterly from the general fund of the Treasury to the Trust Fund in a manner that ensures that the total amount in the Trust Fund at the end of the quarter does not exceed the limitation established under paragraph (2).
(c) Investment of amounts
(1) Investment of amounts
The Secretary shall invest such portion of the Trust Fund as is not required to meet current withdrawals in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.
(2) Interest and proceeds
The interest on, and the proceeds from the sale or redemption of, any obligations held in the Trust Fund shall be credited to and form a part of the Trust Fund.
(d) Availability of amounts from Trust Fund
(1) In general
The United States Trade Representative shall, on the basis of the advice of the Trade Policy Committee and relevant subordinate bodies of the TPC, use or transfer for the use by Federal agencies represented on the TPC amounts in the Trust Fund, only as provided by appropriations Acts, for making expenditures for any of the following:
(A) To seek to enforce the provisions of and commitments and obligations under the WTO Agreements and free trade agreements to which the United States is a party and resolve any actions by foreign countries that are inconsistent with those provisions, commitments, and obligations.
(B) To monitor and ensure the full implementation by foreign countries of the provisions of and commitments and obligations under free trade agreements to which the United States is a party for purposes of systematically assessing, identifying, investigating, or initiating steps to address inconsistencies with those provisions, commitments, and obligations.
(C) To thoroughly investigate and respond to petitions under section 2412 of this title requesting that action be taken under section 2411 of this title.
(D) To support capacity-building efforts undertaken by the United States pursuant to any free trade agreement to which the United States is a party and to prioritize and give special attention to the timely, consistent, and robust implementation of the commitments and obligations of a party to that free trade agreement, including commitments and obligations related to trade in goods, trade in services, trade in agriculture, foreign investment, intellectual property, digital trade in goods and services and cross-border data flows, regulatory practices, state-owned and state-controlled enterprises, localization barriers to trade, labor and the environment, currency, foreign currency manipulation, anticorruption, trade remedy laws, textiles, and commercial partnerships.
(E) To support capacity-building efforts undertaken by the United States pursuant to any such free trade agreement and to include performance indicators against which the progress and obstacles for the implementation of commitments and obligations can be identified and assessed within a meaningful time frame.
(2) Limitation
Amounts made available in the Trust Fund may not be used to offset costs of conducting negotiations for any free trade agreement to be entered into on or after February 24, 2016, but may be used to support implementation and capacity building prior to entry into force of a free trade agreement.
(e) Report
Not later than 18 months after the entry into force of any free trade agreement entered into after February 24, 2016, the United States Trade Representative, in consultation with the Federal agencies represented on the TPC, shall submit to Congress a report on the actions taken under subsection (d) in connection with that agreement.
(f) Comptroller General study
(1) In general
The Comptroller General of the United States shall conduct a study that includes the following:
(A) A comprehensive analysis of the trade enforcement expenditures of each Federal agency with responsibilities relating to trade that specifies, with respect to each such Federal agency—
(i) the amounts appropriated for trade enforcement; and
(ii) the number of full-time employees carrying out activities relating to trade enforcement.
(B) Recommendations on the additional employees and resources that each such Federal agency may need to effectively enforce the free trade agreements to which the United States is a party.
(2) Report
Not later than one year after February 24, 2016, the Comptroller General shall submit to Congress a report on the results of the study conducted under paragraph (1).
(g) Definitions
In this section:
(1) Trade Policy Committee; TPC
The terms "Trade Policy Committee" and "TPC" mean the interagency organization established under section 1872 of this title.
(2) WTO
The term "WTO" means the World Trade Organization.
(3) WTO agreement
The term "WTO Agreement" has the meaning given that term in section 3501(9) of this title.
(4) WTO agreements
The term "WTO Agreements" means the WTO Agreement and agreements annexed to that Agreement.
(Pub. L. 114–125, title VI, §611, Feb. 24, 2016, 130 Stat. 192.)
SUBCHAPTER VI—ENGAGEMENT ON CURRENCY EXCHANGE RATE AND ECONOMIC POLICIES
About This Section
19 U.S.C. § 4405 is part of Title 19 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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