Bipartisan Congressional Trade Priorities Act of 2014 - States the overall trade negotiating objectives of the United States with respect to any agreement with a foreign country to reduce or eliminate existing tariffs or nontariff barriers of that country or the United States that are unduly burdening and restricting U.S. trade. Includes among such objectives obtaining: (1) more open, equitable, and reciprocal market access; and (2) the reduction or elimination of trade barriers and distortions that are directly related to trade and investment and that decrease market opportunities for U.S. exports or otherwise distort U.S. trade.
States the principal trade negotiating objectives of the United States with respect to: (1) goods and services; (2) agriculture; (3) foreign investment; (5) intellectual property; (6) digital goods and services, as well as cross-border data flows; (7) regulatory practices; (8) state-owned and state-controlled enterprises; (9) localization barriers to trade; (10) labor and the environment; (11) currency; (12) the World Trade Organization and multilateral trade agreements; (13) trade institution transparency; (14) anti-corruption; (15) dispute settlement and enforcement; (16) trade remedy laws; (17) border taxes; and (18) textile negotiations.
Authorizes the President to enter into trade agreements with foreign countries for the reduction or elimination of tariff or nontariff barriers before July 1, 2018, or July 1, 2021, if trade authorities procedures are extended to implementing bills (congressional approval) with respect to such agreements.
Authorizes the President to proclaim necessary or appropriate modifications or continuation of any existing duty, continuation of existing duty-free or excise treatment, or additional duties to carry out any such agreement.
Subjects trade agreements to congressional oversight and approval, consultations, and access to information requirements.
Specifies presidential notifications and other actions and their deadlines that must take place for any trade agreement to enter into force.
Prescribes requirements for the treatment of trade agreements entered into under the auspices of the World Trade Organization (WTO) or with the Trans-Pacific Partnership countries or the European Union (EU) which result from negotiations commenced before enactment of this Act.
Expresses the sense of Congress that the United States Trade Representative (USTR) should facilitate participation of small businesses in the trade negotiation process.