WTO reviews U.S. trade policies

This article is a review by the WTO of trade policy by the U.S. It describes the U.S. dealing with several “shocks” since their last review (2001). However, there are certain areas in which the U.S. could use some improvement. These areas include steel, agriculture, and clothing and textile. These areas have put a strain on U.S. trade, consumers, and taxpayers. The successful macroeconomic policies of the U.S. have been able to help during its recovery process. This has allowed the U.S. to sustain growth, which in turn has helped the global economy. It also states that the U.S. has been making efforts to open up the doors to countries and help in the multilateral systems. There is also a warning about the increased security measures taken after 9/11. The concern is that these measures might put in place trade or investment barriers. If we inadvertently put up investment barriers we might be in some deep trouble. With the largest budget deficit on record occurring last year, foreign investment has picked up the slack of falling private savings.

The review is http://docsonline.wto.org/GEN_viewerwindow.asp?D:/DDFDOCUMENTS/T/WT/PRESS/TPRB226.DOC.HTM