Legal Definitions - Trade and Development Program

The Trade and Development Program is a program that promotes trade between the United States and developing countries. It was established in 1961 and is now known as the United States Trade and Development Agency (USTDA). The USTDA is an independentfederal agency in the executive branch that aims to create jobs in the United States and promote economic progress in poorer nations.

The USTDA provides grants to companies in developing countries to help them purchase American-made goods and services. For example, if a company in a developing country needs to purchase equipment to build a new factory, the USTDA may provide a grant to help them purchase the equipment from an American company. This helps create jobs in the United States and promotes economic progress in the developing country.

Another example is the USTDA's support for renewable energy projects in developing countries. The USTDA provides funding for feasibility studies and technical assistance to help these countries develop their renewable energy resources. This not only promotes economic progress but also helps combat climate change.

These examples illustrate how the Trade and Development Program, now known as the USTDA, promotes trade and economic progress between the United States and developing countries.