WASHINGTON, Aug 6: US President George W. Bush signed legislation Tuesday that gives him the power to negotiate new trade deals and limits Congress’s ability to intervene.

The trade promotion authority allows Bush to sign trade pacts while restricting lawmakers to a simple “yes” or “no” vote on the agreements.

Bush becomes the first president to enjoy such broad trade negotiating rights in eight years.

“Since the authority lapsed in 1994, other nations and regions have pursued new trade agreements while America’s trade policy was stuck in ‘park’,” Bush said.

“With each passing day, America has lost trading opportunities and the jobs and earnings that go with them,” he added. “Starting now, America is back at the bargaining table in full force.”—AFP