A lobby group for exporters hopes the United States will maintain its momentum towards a Trans-Pacific Partnership trade deal with New Zealand and nine other nations.
The Obama administration says it will begin talks to renew legislation that would allow the White House to submit deals to Congress for direct votes where no delaying tactics can be used.
The fast track law has long been considered essential for negotiating free trade agreements, but expired in 2007.
Export New Zealand executive director Catherine Beard said the announcement is a positive move towards finalising the 11-country Trans-Pacific Partnership.
She said the United States is an important player in finalising the deal the this year and the sooner an agreement is resolved the better.
The New Zealand United States Council says all the countries involved now have to support the process by coming up with a top quality agreement.