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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 · U.S. Goods and Services Trade Source: Bureau of Economic Analysis and Census Bureau. Components of U.S. Trade Policy Congress sets U.S. trade negotiating objectives, enacts trade laws, programs, and agreements, and oversees executive trade functions conducted by a range of federal agencies. By statute, the U.S. Trade Representative …

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