The concept of creating a generalized, non-reciprocal system of preferences for developing countries dates back to 1968. But enabling legitimate forms of discrimination has predictably had positive and negative consequences and there’s little economic data to demonstrate the programs have accrued significant benefits.
Trade policy is at a historical crossroads — a jump ball, as it were. As we enjoy the NCAA Tournament, let’s look at four similarities between trade and college basketball.
“Ugly” produce is a local trend serving a niche market. But if it does go global, there are a number of changes that would need to be made to standards at international, national and retailer levels on how we define what food “should” look like.
Discussions are now underway as to whether EU antitrust policies need to be relaxed in order to allow greater latitude to meet the challenge posed by Chinese mega-firms.
The current administration’s use of Section 232 to impose trade-restrictive measures on imports of steel and aluminum has become the source of increasing domestic discontent among steel-using industries, farmers who are the target of retaliatory tariffs, and Members of Congress who are reconsidering having delegated powers over trade to the President. It has also put WTO dispute settlement to an unwelcome test.
The US-Mexico-Canada Agreement contains provisions on macroeconomic and exchange rate policies for the first time in a trade agreement. By setting a precedent, the Trump administration is likely to insist on similar commitments in future trade negotiations.
Trade in hydrocarbons, fissionable materials and cross-border transmission of electricity largely take place outside the multilateral trading system. Two key developments may now lead to convergence between the energy business and the rules of the WTO.
Last year, almost 70 percent of the players in England’s Premier League were from other countries. Could this be causing a hollowing out of talent when the World Cup rolls around? Does the home country need to be more “protected” by setting aside more spots for local talent? Or does a “free trade” approach drive up the level of competition?
Export controls are not a new idea. They date back to at least the 14th century when the English tried to keep longbow technology out of the hands of the French during the Hundred Years War. Today, we face a very different world with multiple adversaries, including non-state actors, and no strong consensus on how or when to act.
A May 17 NAFTA deadline has been in the news. That’s because Congressional leaders have advised the Trump administration that the deal needs to get done soon in order to have a vote on NAFTA 2.0 in this Congress under so-called “fast track” voting procedures. There are all sorts of steps on the timeline built into the Trade Promotion Authority legislation (TPA) for expedited approval of trade agreements. Here’s a short version of the history, context, and essentials of how it all works.