ABSTRACT

U.S. Trade Policy: Background and Current Issues [Updated March 16, 2022]   [open pdf - 562KB]

From the Document: "Congress plays a major role in shaping, overseeing and legislating U.S. trade policy through its constitutional authority over tariffs and foreign commerce (Article 1, §8). Since World War II, U.S. trade policy has generally sought to advance U.S. economic growth and competitiveness by: (1) reducing international 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 U.S. trade laws; and (4) offering relief to U.S. workers and firms adversely affected by 'unfair' foreign trade practices and trade liberalization. The Biden Administration came into office with a stated focus on domestic economic issues and many trade policy initiatives remain under development."

Report Number:
CRS In Focus, IF10156
Author:
Publisher:
Date:
2022-03-16
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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