U.S trade strategy pot

[...]... wavering representatives have to extract pork-barrel spending or trade- distorting measures that undercut the original purpose of the trade deal [15] U.S Trade Strategy: Free Versus Fair A FREE TRADE APPROACH? The free trade approach to trade policy assumes that the economic and political benefits reaped by the United States from multilateral trade expansion far outweigh the costs The Institute for International... Phytosanitary STDF Standards and Trade Development Facility TAA Trade Adjustment Assistance TABD Transatlantic Business Dialogue TBT Technical Barriers to Trade TPA Trade Promotion Authority TRIPS Trade- Related Aspects of Intellectual Property Rights TSD Transatlantic Social Dialogue UNCTAD United Nations Conference on Trade and Development UNDP United Nations Development Programme USTR U.S Trade Representative... fair trade approach to trade policy questions how ardently trade should be expanded From a strictly economic perspective, it argues that conventional analyses underestimate the cost of job dis- [17] U.S Trade Strategy: Free Versus Fair location in an economy operating at less than full employment, and overestimate the benefits from trade liberalization From a political perspective, it argues that trade. .. services, the U.S economy needs international trade to prosper One [4] Memorandum to the President recent analysis concludes that trade liberalization generates an additional $800 billion annually in national income for the United States; future trade expansion is estimated to benefit the U.S economy by up to $1.3 trillion per year Trade is equally vital to American foreign policy • Trade will be essential... multilateral trade agenda conducted through the World Trade Organization The second-best option is to continue pursuing free trade agreements with important trading partners, such as Japan, India, South Korea, and the European Union (EU) A fair trade orientation assumes that further trade expansion will benefit most Americans only under very specific circumstances Fair traders believe that unchecked trade. .. at home Additional trade issues must also be addressed in the near term, such as regulatory coordination and the balancing of multiple tracks of trade diplomacy These issues go beyond the free trade/ fair trade dichotomy There are multiple policy options to address these concerns; they are detailed in the white papers attached to this memo Why Trade Matters Trade is vital to the U.S economy for a number... policy will be viewed as an abdication of U.S economic leadership Slowing down imports will encourage other countries to erect higher trade barriers against U.S exports Any kind of global trade war would severely damage the American economy—and American workers In short, free trade is less difficult to negotiate but more difficult to sell at home, while fair trade is more difficult to negotiate but... of Southeast Asian Nations Alternative Trade Adjustment Assistance Bureau of Labor Statistics Central American Free Trade Agreement Chinese National Offshore Oil Corporation Canada -U.S Free Trade Agreement Department of Energy Department of Transportation European Union Federal Aviation Administration Food and Agriculture Organization free trade agreement Free Trade Area of the Americas Group of Seven... create one of the least hospitable environments for trade liberalization in recent memory Navigating these political waters will require firm leadership on your part As a first step, you need to articulate your orienta- [1] U.S Trade Strategy: Free Versus Fair tion of how the United States should approach trade policy The advantage of thinking about trade policy in terms of orientation is that it communicates... the Trade Promotion Authority (TPA) that Congress granted to you is remote China presents the most vexing set of bilateral trade issues As the February 2006 U.S Trade Representative (USTR) review of the Sino-American trade relationship points out, there are disputes ranging from textile imports to corporate takeovers to the currency exchange rate The end of the Multi-Fiber Agreement (which governed trade . orientations to discuss the issue at hand. At times, this required me to forcefully articulate positions that I would vehemently oppose under most circumstances. In. protectionist pressures regarding issues such as outsourcing, textiles, and agri- culture. The “fair trade approach seeks to balance the economic benefits of free trade