The Trade Agreements Act (TAA) is a United States federal law that was enacted in 1979. It governs the procurement of goods and services by the federal government and restricts access to certain foreign products. The TAA provides that only products that originate from countries that have entered into a trade agreement with the United States are eligible for procurement by the federal government.
The TAA was enacted to promote fair and open international trade by encouraging the development of free trade agreements between the United States and other countries. It supports the negotiation of new trade agreements and the strengthening of existing ones. The TAA ensures that the federal government uses public funds to purchase products that have been manufactured or produced in a fair and open competitive market.
The TAA applies to all federal agencies and is mandatory for all contracts that exceed a certain dollar threshold. It requires contractors to certify that their products comply with the TAA and that they were manufactured or produced in countries that have entered into a trade agreement with the United States.
The TAA has had a significant impact on the way that the federal government procures goods and services. It has increased the competition among suppliers and encouraged the development of new trade agreements with countries outside of the United States.
In order to comply with the TAA, contractors need to be aware of the countries that are eligible for procurement by the federal government. They need to ensure that their products comply with the TAA and that they have the necessary certifications and documentation to demonstrate compliance.
The TAA is an important law that promotes fair and open international trade. It ensures that the federal government uses public funds to purchase products that are manufactured or produced in a fair and open competitive market. Contractors that wish to do business with the federal government need to be aware of the TAA and ensure that they comply with its requirements.