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This report discusses one of the major trade issues in the 107th Congress: whether or not Congress approves authority for the President to negotiate trade agreements with expedited, or "fast track" procedures. Under this authority, Congress agrees to consider legislation to implement the nontariff trade agreements under a procedure with mandatory deadlines, no amendment, and limited debate. The President is required to consult with congressional committees during negotiation of nontariff trade agreements and notify Congress before entering into any such agreement. The President was granted fast-track authority almost continuously from 1974 to 1994, but the authority lapsed and has not been renewed.