The fast track authority for brokering trade agreements is the authority of the President of the United States to negotiate international agreements in an expedited manner and with limited congressional oversight. Renamed the trade promotion authority (TPA) in 2002, the TPA is an impermanent power granted by Congress to the President. It remained in effect from 1975 to 1994, pursuant to the Trade Act of 1974 and from 2002 to 2007 pursuant to the Trade Act of 2002. Although it technically expired in July 2007, it remained in effect for agreements that were already under negotiation until their passage in 2011. In June 2015, a third renewal passed Congress and was signed into law by President Barack Obama.