Department of Trade Establishment Act

TABLE OF CONTENTS:

Title I: General Provisions

Title II: Department of Trade

Subtitle A: Establishment

Subtitle B: Transfers to the Department

Subtitle C: Administrative Provisions

Subtitle D: Related Agencies

Subtitle E: Conforming Provisions

Title III: Transitional, Savings, and Conforming Provisions

Title IV: Miscellaneous

Department of Trade Establishment Act- Title I: General Provisions - Sets forth definitions.

Title II: Department of Trade - Subtitle A: Establishment - Establishes the Department of Trade (Department), to be administered by a Secretary of Trade (Secretary) appointed by the President, by and with the advice and consent of the Senate.

(Sec. 202) Directs the Secretary, among other things, to: (1) exercise primary responsibility for developing international trade policy, including the initiation of international trade negotiations; (2) establish a national export strategy; (3) enhance the ability of U.S. industry and services to compete in international markets; and (4) identify unfair foreign trade practices that are either inconsistent with any trade agreement with the United States or have an adverse impact on U.S. commerce.

(Sec. 203) Establishes: (1) the Bureau of Export Promotion; (2) the Bureau of Trade Policy; and (3) the Bureau of Trade Administration.

(Sec. 206) Establishes within the Department: (1) a Deputy Secretary of Trade; (2) three Under Secretaries of Trade; (3) six Assistant Secretaries of Trade; (4) a General Counsel; and (5) an Inspector General.

Subtitle B: Transfers to the Department - Transfers to the Secretary functions of the : (1) Secretary of Commerce; (2) Department of Commerce, including functions performed by certain of its officers and employees; (3) the United States Trade Representative (USTR); and (4) Director of the Trade and Development Agency.

(Sec. 222) Amends the Export-Import Bank Act of 1945 to revise the membership of the Board of Directors of the Export-Import Bank of the United States.

Amends the Omnibus Trade and Competitiveness Act of 1988 to require the Commercial Service to provide certain assistance with respect to the Bank's lending, loan guarantee, and insurance activities.

(Sec. 223) Amends the Foreign Assistance Act of 1961 to revise the congressional purpose of the Overseas Private Investment Corporation (OPIC) to include to increase exports to less developed countries and countries in transition from nonmarket to market economies.

Revises the membership of the Board of Directors of the OPIC.

(Sec. 225) Directs the President to transmit to the Congress a comprehensive plan to consolidate Federal nonagricultural export promotion activities and transfer them to the Department.

Subtitle C: Administrative Provisions - Sets forth certain administrative provisions, including the establishment of a working capital fund.

Subtitle D: Related Agencies - Amends the Trade Expansion Act of 1962 and the National Security Act of 1947 to revise the composition of the Interagency Trade Organization and the National Security Council to include the Secretary.

(Sec. 253) Amends the Bretton Woods Agreement Act to require the U.S. executive director of the International Monetary Fund to consult with the Secretary with respect to matters under consideration by the Fund which relate to trade.

Subtitle E: Conforming Provisions - Amends specified Federal laws to set forth conforming provisions.

Title III: Transitional, Savings, and Conforming Provisions - Sets forth transitional, savings, and conforming provisions.

Title IV: Miscellaneous - Sets forth effective dates.

(Sec. 404) Authorizes appropriations.

(Sec. 405) Limits annual expenditures for any function not terminated by this Act to 75 percent of FY 1995 expenditures for the performance of such function.