S. 446 — Trading System Preservation Act

This bill authorizes the President to enter into covered plurilateral trade agreements. Covered plurilateral trade agreement refers to a sector-specific agreement within the framework of the World Trade Organization (WTO) involving foreign countries or foreign territories that form a subset of the members of the WTO that does not extend benefits on a most-favored-nation basis. Specifically, the bill requires the U.S. Trade Representative to provide a classified briefing to specified congressional committees on the feasibility and advisability of pursuing and adopting covered plurilateral trade agreements. After the congressional briefing, the bill directs the President to initiate negotiat...