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The nation has been living with the Obama administration’s trade policy for five years, with relatively little to show for it. In the remaining three years, is the executive branch likely to obtain Trade Promotion Authority (TPA) and successfully conclude the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP)? Although free traders very much want all of this to happen, hard-headed experience indicates it’s most likely that the administration will accomplish none of this.
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Anti-Sanctions for Ukraine?
Sanctions on foreign countries that do bad things don’t tend to achieve the desired results, but what about lifting punitive trade restrictions on countries in need? Trade Policy Analyst Bill Watson calls them “anti-sanctions.”
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Examining Vice President Biden's trade voting record, Senior Fellow Dan Pearson asks: Would it be feasible for Vice President Biden to play a useful role in achieving the administration’s trade objectives?
Check out This Month's Featured Profile of Vice President Biden during his time in the Senate.
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ICYMI! Past Events:
TPA, TPP, TTIP, and You: When Will We Enjoy the Fruits of the U.S. Trade Agenda?
Featuring Dan Ikenson, Director, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute; Simon Lester, Policy Analyst, Cato Institute; Daniel Pearson, Senior Fellow, Cato Institute; and Bill Watson, Policy Analyst, Cato Institute.
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Our Scholars on this Month's Trade News
In his praise of last week’s WTO ruling against Chinese rare earth export restrictions, House Ways and Means Ranking Member Sander Levin explained how such restrictions “block our companies from having access to key inputs.” Someone should remind the congressman that impeding imported raw materials and intermediate goods to the detriment of downstream, import-consuming U.S. manufacturers has become the de facto purpose of the U.S. antidumping law, which he so strongly supports. Nearly 80% of U.S. antidumping measures imposed between 2000 and 2009 and a full 100% of those measures over the past year were against intermediate goods.
-Daniel J. Ikenson
Another round of the TTIP negotiations has just been completed, and it is clear that many issues still need to be resolved. Prospects for a quick conclusion to these talks are looking dim.
-Simon Lester
Vice President Biden started his Senate career as a relatively consistent supporter of trade liberalization, voting in favor of major initiatives from the Trade Act of 1974 through the 2004 free-trade agreements with Australia and Morocco. Then he voted against DR-CAFTA, Oman and Peru before leaving the Senate following the 2008 election. Because he found himself voting both for and against market-opening initiatives, perhaps he is in a position to explain to members of Congress why liberalization is the right choice now.
-Daniel R. Pearson
Major U.S. businesses with interests in the Russian market have been urging the administration not to impose broad economic sanctions in response to the annexation of Crimea. The concerns of these businesses are legitimate and their lobbying is appreciated. Policymakers should also remember that economic sanctions will harm millions of innocent Russians while reducing the chances for long-term peace and stability.
-K. William Watson
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