Policy Brief 22-17: Have trade agreements been bad for America?

20.500.12592/fcp22w

Policy Brief 22-17: Have trade agreements been bad for America?

13 Dec 2022

voted for approval of the North American Free Trade Agreement (NAFTA), for approval of the creation of the World Trade Organization, and for permanent normal trade relations for China. [...] The Soviet Union chose not to participate in the new global arrangement, the General Agreement on Tariffs and Trade (GATT); when the Communists took power in Beijing, China withdrew from the agreement. [...] The disintegration of the Soviet Union, in 1991, was viewed as a sign of the superiority of the liberal economic model, which promoted market forces to determine competitive outcomes (with guardrails to avoid excesses) and advanced the cause of political freedom. [...] On July 8, 2022, Ambassador Tai and Canadian Trade Minister Mary Ng met and “highlighted the importance of the US-Canada economic relationship and reiterated their commitment to a full implementation of the USMCA.” In a meeting with Mexico’s Secretary of Economy Raquel Buenrostro, Ambassador Tai highlighted the importance of US-Mexico economic relations and continued implementation of the USMCA. [...] Was the World Trade Organization the Problem? Critics of neoliberalism will not find a headlong rush to trade liberalization in the historic record of the WTO.

Authors

Alan Wm. Wolff, Robert Z. Lawrence, and Gary Clyde Hufbauer

Pages
17
Published in
United States of America