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U.S. Trade Policy: Background and Current Issues

Updated September 15, Trade policy : Background and Current IssuesCongress plays a major role in Trade policy through its constitutional authority over tariffs and foreign commerce (Article 1, 8). Since World War II, Trade policy has generally sought to promote economic growth and competitiveness by: (1) reducing global Trade and investment barriers; (2) fostering an open, transparent, and nondiscriminatory rules-based trading system, including through the World Trade Organization (WTO); (3) enforcing partner countries Trade commitments and Trade laws; and (4) offering relief to firms and workers adversely affected by unfair foreign Trade practices and Trade liberalization.

Sep 15, 2020 · While WTO agreements have stalled, bilateral and regional trade agreements have proliferated with over 300 in force globally. The United States has 14 free trade agreements (FTAs) with 20 countries in force, covering market access and rules, usually exceeding WTO commitments. U.S. trade agreements have been a focus of President

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