SPECIAL RELATIONSHIP Act

Hozzl · 2022-12-29T17:48:34Z

Explore the details of Senate Bill 4450 SPECIAL RELATIONSHIP Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Foreign Trade and International Finance. Stay informed on legislative developments.

12/29/2022, 5:48 PM

Congressional Summary of S 4450

Securing Privileged Economic, Commercial, Investment, And Legal Rights to Ensure Longstanding Atlantic Trade and Investment Opportunities and Nurture Security, Happiness, Innovation, and Prosperity Act or the SPECIAL RELATIONSHIP Act

This bill grants certain authorities to the President for entering into a comprehensive trade agreement between the United States and the United Kingdom (UK).

Specifically, the bill directs the President to initiate negotiations with the UK regarding tariff and nontariff barriers affecting any industry, product, or service sector.

The bill authorizes the President to enter into a comprehensive trade agreement with the UK, with such authority expiring on July 1, 2027. Further, the President may proclaim a modification or continuance of any existing duty or continuance of existing excise or duty-free treatment to carry out an agreement, with certain limitations.

The bill also requires the President to consult with and notify Congress regarding the intention of the President to enter into an agreement or make a proclamation.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill S 4450

Bill S 4450 is currently in the status of Bill Introduced since June 22, 2022. Bill S 4450 was introduced during Congress 117 and was introduced to the Senate on June 22, 2022. Bill S 4450's most recent activity was Read twice and referred to the Committee on Finance. as of June 22, 2022