Management of Trade Adjustment Program Shows Progress

Highlights

GAO reviewed the financial assistance provided to import-impacted firms under the Trade Act of 1974 to help Congress decide whether to reauthorize the firm assistance section of the Act before its expiration date.

Recommendations

Recommendations for Executive Action

Agency Affected	Recommendation	Status
Department of Commerce	The Secretary of Commerce should direct the Under Secretary for International Trade to require that each applicant's production facilities be visited prior to loan approval to evaluate the condition of the plant and equipment and to assess management capabilities.	Closed – Implemented When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of Commerce	The Secretary of Commerce should direct the Under Secretary for International Trade to require each firm to provide with its application the terms and conditions under which private financing was requested and the reason its loan request was denied.	Closed – Implemented When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of Commerce	The Secretary of Commerce should direct the Under Secretary for International Trade to develop and issue loan servicing procedures.	Closed – Implemented When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Full Report

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International Affairs

Business assistanceCompetitionDebt collectionEconomic developmentInternational tradeLoansPrivate sectorProgram evaluationTechnical assistanceFinancial assistance