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Congress granted the President Trade Promotion Authority (TPA) to negotiate agreements, including free trade agreements (FTA) in 2002. TPA stipulated negotiating objectives and procedural steps for the administration, including consulting with Congress and trade advisory committees.
In October 2000, Congress established the U.S.-China Economic and Security Review Commission to assess the national security implications of the trade and economic relationship between the United States and the People's Republic of China and issue an annual report by June 1.
What GAO FoundMCC projects that the Vanuatu compacts transportation infrastructure projects will provide direct benefits such as reduced transportation costs and induced benefits from growth in tourism and agriculture.
President Bush has identified the success of global trade talks launched in Doha, Qatar, in November 2001 as one of the United States' top trade policy priorities. Known as the Doha Development Agenda, the talks are an important means of spurring global growth and development.
In January 2004, Congress established the Millennium Challenge Corporation (MCC) to administer the Millennium Challenge Account. MCC's mission is to reduce poverty by supporting sustainable, transformative economic growth in developing countries that create and maintain sound policy environments.
U.S. officials often call the World Trade Organization's (WTO) Doha Development Agenda or "Round" of global trade talks, launched in Doha, Qatar, in November 2001, a "once in a generation opportunity" to expand trade.
In December 2004, an earthquake off the coast of Indonesia caused a tsunami that left more than 230,000 people killed or missing and presumed dead and an estimated $10 billion in damage in 12 countries. In May 2005, Congress appropriated $908 million for relief and reconstruction. U.S.