Promoting International Regulatory Cooperation
May 4, 2012
Signed by: Barack Obama
Signed on: May 1, 2012
Published on: May 4, 2012
May 4, 2012
Signed by: Barack Obama
Signed on: May 1, 2012
Published on: May 4, 2012
Summary
Tells U.S. government groups to work with other countries to make rules that are similar, helping American businesses sell things worldwide.
What problem does this solve?
Different countries often have conflicting rules, which can make it hard and costly for American businesses to sell their products overseas. This order creates a process for U.S. agencies to work with other nations to reduce these differences, making trade easier while keeping protections in place.
What does this order do?
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Coordination of international regulatory cooperation
Establishes a forum for coordination
Uses the existing Regulatory Working Group as a central place for government agencies to discuss and coordinate their work on international rules.
Requires agencies to plan for international cooperation
Makes federal agencies include a summary of their international rule-making activities in their yearly Regulatory Plan.
Considers foreign rules in reviews
Directs agencies, when reviewing old rules, to think about changing them to reduce unnecessary differences with major trading partners.
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Coordination of international regulatory cooperation
Promotes U.S. regulatory approaches
Tasks the Regulatory Working Group with promoting good rule-making practices and U.S. approaches to rules in other countries.
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Coordination of international regulatory cooperation
Focuses on emerging technology
Instructs the Working Group to examine strategies for working with other countries on rules for new technologies.
Who does this affect?
- U.S. businesses involved in international trade
- Federal regulatory agencies
What is the real world impact?
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Boosts U.S. exports
Helps American businesses sell more products overseas by making U.S. and foreign rules more alike. This can reduce costs and make it easier to enter new markets.
When does this start?
This order takes effect on May 1, 2012.