Feb.15--DRAWING criticism is a plan by US President Barack Obama to merge the Office of the US Trade Representative (USTR) with other related agencies to create a one-stop-shop for American exporters, Reuters reports.
Said Republican Senate Finance Committee chairman Orrin Hatch: "Folding an agency with a proven track record, like USTR, into a massive government bureaucracy would only undermine its effectiveness."
The proposal, said to save US$3 billion over 10 years, is contained in his wish-list budget presented to a hostile Republican controlled Congress that is not expected to give it much of a hearing, much less pass it into law.
The revamp would put USTR, the Export-Import Bank, the Overseas Private Investment Corporation, the US Trade and Development Agency, the Small Business Administration, parts of the Department of Commerce and rural business programmes at several agencies under the same roof.
"By bringing together the core tools to expand trade and investment, grow small businesses, and support innovation, the new department would coordinate these resources to maximise the benefits for businesses and the economy," the budget proposal said.
In the past, some lawmakers voiced cautious support for the streamlining plan while others worried it would create a bureaucratic behemoth that would compromise the independence of some of the trade bodies.
(Source:shippingazette)