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Trade Related Agencies: FY2019 Appropriations, Commerce, Justice, Science and Related Agencies (CJS) [Updated December 10, 2018]
"On February 12, 2018, the Trump Administration submitted its FY2019 budget request to Congress. The proposal includes a total of $590.8 million for three trade-related agencies-- the International Trade Administration (ITA), the U.S. International Trade Commission (USITC), and the office of the United States Trade Representative (USTR). This is 8.9% less than the FY2018 total appropriated amounts for these agencies. The Administration requests reducing funding for all three trade-related agencies. For FY2019, the request includes $440.1 million in direct funding for ITA (an 8.7% decrease from the FY2018 appropriation), $87.6 million for USITC (a 6.5% decrease), and $63.0 million for USTR (a 13.2% decrease)."
Library of Congress. Congressional Research Service
Hammond, Keigh E.; Villarreal, M. Angeles
2018-12-10
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NAFTA Renegotiation and the Proposed United States-Mexico-Canada Agreement (USMCA) [Updated February 26, 2019]
"The 116th Congress, in both its legislative and oversight capacities, faces numerous trade policy issues related to the North American Free Trade Agreement (NAFTA) renegotiations and the proposed United States-Mexico-Canada Agreement (USMCA). On May 18, 2017, the Trump Administration sent a 90-day notification to Congress of its intent to begin talks with Canada and Mexico to renegotiate and modernize NAFTA, as required by the 2015 Trade Promotion Authority (TPA). Talks officially began on August 16, 2017. On September 30, 2018, leaders from the United States, Canada, and Mexico announced the conclusion of the negotiations for a modernized NAFTA, which would now be called the USMCA. [...] This report provides a brief overview of NAFTA and the role of Congress in the renegotiation process, and discusses key provisions in the proposed USMCA, as well as issues related to the negotiations. It also provides a discussion of policy implications for Congress going forward. It will not examine existing NAFTA provisions and economic relations in depth."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Fergusson, Ian F.
2019-02-26
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Proposed U.S. - Mexico - Canada (USMCA) Trade Agreement [October 5, 2018]
"On September 30, 2018, the United States and Canada reached an agreement for Canada to join the preliminarily agreed upon pact with Mexico to update and revise the North American Free Trade Agreement (NAFTA) and to rename it the U.S. - Mexico - Canada Agreement (USMCA). Pursuant to trade promotion authority (TPA), the preliminary agreement with Mexico was notified to Congress on August 31, 2018, in part to allow for the signing of the agreement prior to Mexico's president-elect Andreas Manuel Lopez Obrador taking office on December 1, 2018. This product provides preliminary comparative analysis between the two agreements."
Library of Congress. Congressional Research Service
Fergusson, Ian F.; Villarreal, M. Angeles
2018-10-05
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Latin America and the Caribbean: Issues in the 115th Congress [Updated January 22, 2019]
"Geographic proximity has ensured strong linkages between the United States and Latin America and the Caribbean, based on diverse U.S. interests, including economic, political, and security concerns. The United States is a major trading partner and the largest source of foreign investment for many countries in the region, with free-trade agreements enhancing economic linkages with 11 countries. The region is a large source of U.S. immigration, both legal and illegal; proximity and economic and security conditions are major factors driving migration. Curbing the flow of illicit drugs has been a key component of U.S. relations with the region for more than three decades and currently involves close security cooperation with Mexico, Central America, and the Caribbean. U.S. support for democracy and human rights in the region has been long-standing, with particular current focus on Cuba, Nicaragua, and Venezuela."
Library of Congress. Congressional Research Service
Sullivan, Mark P.; Beittel, June S.; DeBruyne, Nese F. . . .
2019-01-22
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Proposed U.S.-Mexico-Canada (USMCA) Trade Agreement [Updated February 22, 2019]
"On November 30, 2018, President Trump and the leaders of Canada and Mexico signed the United States-Mexico-Canada Agreement (USMCA). Concluded on September 30, 2018, USMCA would revise and modernize the North American Free Trade Agreement (NAFTA). Pursuant to trade promotion authority (TPA), the Administration notified Congress of its intention to sign the agreement with Mexico on August 31, 2018. Canada joined the agreement on September 30, 2018, and it was signed by the three parties on November 30. This product provides preliminary comparative analysis between the two agreements."
Library of Congress. Congressional Research Service
Fergusson, Ian F.; Villarreal, M. Angeles
2019-02-22
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Proposed U.S.-Mexico-Canada (USMCA) Trade Agreement [Updated July 24, 2019]
From the Overview: "On November 30, 2018, President Trump and the leaders of Canada and Mexico signed the United States-Mexico-Canada Agreement (USMCA). Concluded on September 30, 2018, USMCA would revise and modernize the North American Free Trade Agreement (NAFTA). Pursuant to trade promotion authority (TPA), the Administration notified Congress of its intention to enter into an agreement with Mexico, and with Canada if it was willing to join. On September 30, 2018, the United States Trade Representative (USTR) announced that the three countries had reached an agreement on a USMCA trade deal that would revise, modernize, and replace NAFTA upon ratification. On May 30, 2019, the Administration submitted a draft Statement of Administrative Action (SAA) to implement the proposed USMCA and a copy of the legal text, in accordance with TPA procedures. This product provides preliminary comparative analysis between the two agreements."
Library of Congress. Congressional Research Service
Fergusson, Ian F.; Villarreal, M. Angeles
2019-07-24
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Worker Rights Provisions in Free Trade Agreements (FTAs) [Updated August 23, 2019]
From the Overview: "Worker rights have become a prominent issue in U.S. FTA [Free Trade Agreement] negotiations. Some stakeholders believe worker rights provisions are necessary to protect U.S. workers from perceived unfair competition and to raise labor standards abroad. Others believe these rights are more appropriately addressed at the International Labor Organization (ILO) or through cooperative efforts and capacity building. Since 1988, Congress has included worker rights as a principal negotiating objective in Trade Promotion Authority (TPA) legislation. The United States has been in the forefront of using FTAs to promote core internationally-recognized worker rights. Labor provisions have evolved significantly since the North American Free Trade Agreement (NAFTA), moving from side agreements to integral chapters within FTA texts, with more provisions subject to enforcement mechanisms. The renegotiation of NAFTA, completed in September 2018, led to the new proposed U.S.-Mexico-Canada Agreement and a revised labor chapter."
Library of Congress. Congressional Research Service
Cimino-Isaacs, Cathleen D.; Villarreal, M. Angeles
2019-08-23
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USMCA: Labor Provisions [Updated January 10, 2020]
From the Overview: "The proposed U.S.-Mexico-Canada Agreement (USMCA), signed in late 2018, requires implementing legislation that must be approved by Congress before it can enter into force. [...] Labor issues were a major congressional concern throughout the USMCA negotiations and remained an issue after the three countries concluded the agreement in September 2018. In response, the U.S. Trade Representative (USTR) and some Members of the House of Representatives negotiated changes to the USMCA; most of the changes were dedicated to labor modifications. USTR then negotiated the amendments with Canada and Mexico."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Cimino-Isaacs, Cathleen D.
2020-01-10
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USMCA: Amendment and Key Changes [Updated January 10, 2020]
From the Overview: "On December 10, 2019, the United States, Canada, and Mexico agreed to a protocol of amendment to the proposed U.S.-Mexico-Canada Agreement (USMCA). The amendments include modifications to key elements of the original text in regard to dispute settlement, labor and environmental provisions, intellectual property rights (IPR), and steel and aluminum requirements in the rules of origin for autos. On December 13, the Trump Administration submitted to Congress the proposed USMCA implementing legislation, which also reflects the recent amendments. On the same day, the United States-Mexico-Canada Implementation Act (H.R. 5430) was introduced in the House of Representatives. On December 16, the companion bill was introduced in the Senate (S. 3052). The House Ways and Means Committee approved the legislation on December 17, 2019, and the full House approved it on December 19, 2019, by a vote of 385-41. On January 7, 2020, the Senate Finance Committee approved the legislation."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Fergusson, Ian F.
2020-01-10
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USMCA: Motor Vehicle Provisions and Issues [Updated December 19, 2019]
From the Background: "The proposed United States-Mexico-Canada Agreement (USMCA) would revise and replace the North American Free Trade Agreement (NAFTA), in force since January 1, 1994. NAFTA eliminated trade and investment barriers between the United States and two of its largest trading partners, Canada and Mexico. It was the most comprehensive free trade agreement (FTA) negotiated at the time and contained groundbreaking provisions in areas such as market access, rules of origin (ROO), intellectual property rights, services, investment, dispute settlement, and worker rights. The North American motor vehicle industry is highly integrated and is a major source of trade and investment among the NAFTA partners. On December 13, the Trump administration submitted to Congress the proposed USMCA implementing legislation, which reflects the recent amendments. On the same day, the United States-Mexico-Canada Implementation Act (H.R. 5430) was introduced in the House of Representatives. On December 16, the bill was introduced in the Senate (S. 3052)."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Canis, Bill; Wong, Liana
2019-12-19
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Latin America and the Caribbean: U.S. Policy and Issues in the 116th Congress [Updated March 10, 2020]
From the Document: "The United States maintains strong linkages with neighboring Latin America and the Caribbean based on geographic proximity and diverse U.S. interests, including economic, political, and security concerns. The United States is a major trading partner and source of foreign investment for many countries in the region, with free-trade agreements enhancing economic linkages with 11 countries. The region is a large source of U.S. immigration, both legal and illegal; proximity and economic and security conditions are major factors driving migration. Curbing the flow of illicit drugs has been a key component of U.S. relations with the region for more than four decades and currently involves close security cooperation with Mexico, Central America, and the Caribbean. U.S. support for democracy and human rights in the region has been long-standing, with particular current focus on Cuba, Nicaragua, and Venezuela."
Library of Congress. Congressional Research Service
Sullivan, Mark P.; Beittel, June S.; DeBruyne, Nese F. . . .
2020-03-10
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NAFTA and the United States-Mexico-Canada Agreement (USMCA) [Updated March 2, 2020]
From the Document: "The 116th Congress, in both its legislative and oversight capacities, has been active in numerous trade policy issues related to renegotiation of the North American Free Trade Agreement (NAFTA) and its replacement, the United States-Mexico-Canada Agreement (USMCA). In May 2017, the Trump Administration sent a 90-day notification to Congress of its intent to begin talks with Canada and Mexico to renegotiate and modernize NAFTA, as required by the 2015 Trade Promotion Authority (TPA). Negotiations officially began on August 16, 2017, and were concluded on September 30, 2018. The USMCA was signed on November 30, 2018. The agreement was approved by the House of Representatives (H.R. 5430) on December 19, 2019, by a vote of 385-41, and by the Senate (S. 3052) on January 16, 2020, by a vote of 89-10. President Trump signed the USMCA implementing legislation on January 29, 2020 (P.L. 116-113). All three parties must ratify the agreement and have regulations and laws in effect to meet their USMCA commitments before the agreement enters into force."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Fergusson, Ian F.
2020-03-02
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Proposed U.S.-Mexico-Canada (USMCA) Trade Agreement [Updated January 10, 2020]
From the Overview: "On November 30, 2018, President Trump and the leaders of Canada and Mexico signed the United States-MexicoCanada Agreement (USMCA). USMCA would revise and modernize the North American Free Trade Agreement (NAFTA), in place since 1994. Pursuant to trade promotion authority (TPA), the Administration notified Congress of its intention to enter into USMCA. [...] On December 13, 2019, the Trump Administration submitted to Congress the proposed USMCA implementing legislation. On the same day, the United States-Mexico Canada Implementation Act (H.R. 5430) was introduced in the House of Representatives. On December 16, the companion bill was introduced in the Senate (S. 3052). The House Ways and Means Committee approved the legislation on December 17, 2019, and the full House approved the bill on December 19, 2019, by a vote of 385-41. The Senate Finance Committee approved the legislation on January 7, 2020."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Fergusson, Ian F.
2020-01-10
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USMCA: Amendment and Key Changes [Updated January 30, 2020]
From the Overview: "On December 10, 2019, the United States, Canada, and Mexico agreed to a protocol of amendment to the proposed U.S.-Mexico-Canada Agreement (USMCA). The amendments include modifications to key elements of the original text in regard to dispute settlement, labor and environmental provisions, intellectual property rights (IPR), and steel and aluminum requirements in the rules of origin for autos. On December 13, the Trump Administration submitted to Congress the proposed USMCA implementing legislation, which also reflects the recent amendments. [...] The U.S. Trade Representative (USTR) and some Members of Congress negotiated proposed changes to the USMCA to address ongoing congressional concerns. USTR then negotiated the amendments with USMCA parties. Mexico was the first country to ratify the agreement in June 2019 and approve the amendments by a 107-1 vote in the Mexican Senate on December 12, 2019. Canada's Parliament is expected to ratify it in early 2020. Congress is considering USMCA under TPA rules, which is the time-limited authority that Congress uses to consider implementing legislation for trade agreements under expedited procedures, provided that they meet certain statutory requirements. Under TPA [Trade Promotion Authority], Congress has a maximum of 90 legislative days to vote on the agreement."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Fergusson, Ian F.
2020-01-30
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U.S.-Mexico-Canada (USMCA) Trade Agreement [Updated January 30, 2020]
From the Overview: "On November 30, 2018, President Trump and the leaders of Canada and Mexico signed the United States-Mexico-Canada Agreement (USMCA). USMCA would revise and modernize the North American Free Trade Agreement (NAFTA), in place since 1994. Pursuant to trade promotion authority (TPA), the Administration notified Congress of its intention to enter into USMCA. On December 10, 2019, the United States, Canada, and Mexico agreed to a protocol of amendment to the proposed USMCA. The revisions include modifications to key elements of the original text regarding dispute settlement, labor and environmental provisions, intellectual property rights (IPR) protection, and steel and aluminum requirements in the motor vehicle industry rules of origin. Amendments also provide for a facility-specific rapid response labor mechanism to address worker rights provisions. The Trump Administration submitted the proposed implementing legislation to Congress on December 13, 2019. On the same day, the USMCA Implementation Act (H.R. 5430) was introduced in the House of Representatives. On December 16, the companion bill was introduced in the Senate (S. 3052). The legislation was passed by the House Ways and Means Committee on December 17; by the full House on December 19 by a vote of 385-41; by the Senate Finance Committee on January 7, 2020; and by the full Senate on January 16 by a vote of 89- 10. President Trump signed the legislation on January 29, 2020 (P.L. 116-113)."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Fergusson, Ian F.
2020-01-30
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Trade Primer: Qs and As on Trade Concepts, Performance, and Policy [March 27, 2007]
"The 110th Congress has a full legislative and oversight agenda on international trade. The agenda may include considering legislation to implement a number of free trade agreements, possible renewal of trade promotion authority (TPA), as well as oversight of U.S. trade relations with China. This report provides information and context for many of these topics. It is intended to be read primarily by Members and staff who may be new to trade issues. This report is divided into four sections in a question-and-answer format: trade concepts, U.S. trade performance, formulation of U.S. trade policy, and trade and investment issues. Additional suggested readings are provided in an appendix."
Library of Congress. Congressional Research Service
Ahearn, Raymond J.; Bolle, Mary Jane; Cooper, William H., 1949- . . .
2007-03-27
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Trade Primer: Qs and As on Trade Concepts, Performance, and Policy [January 18, 2013]
"The 113th Congress may have a full legislative and oversight agenda on international trade. This may include consideration of legislation to reauthorize Trade Promotion Authority (TPA) and implementation of a possible Trans-Pacific Partnership (TPP) trade agreement. Congress may also pay close attention to the new negotiation for an International Services Agreement and developments in the Doha Development Round, both under the auspices of the World Trade Organization (WTO). There is also discussion of beginning trade negotiations for a U.S.- European Union free trade agreement (FTA). Other issues might include enhanced enforcement of U.S. trade agreements and trade relations with China. This report provides information and context for these and many other trade topics. It is intended to assist Members and staff who may be new to trade issues. For more details on specific trade issues facing the 113th Congress see CRS Report R42882, 'International Trade and Finance: Key Policy Issues for the 113th Congress,' coordinated by Mary A. Irace and J. F. Hornbeck. This report is divided into four sections in a question-and-answer format: trade concepts; U.S. trade performance; formulation of U.S. trade policy; and trade and investment issues. Additional suggested readings are provided in an appendix."
Library of Congress. Congressional Research Service
Hornbeck, J. F. (John F.); Bolle, Mary Jane; Cooper, William H., 1949- . . .
2013-01-18
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Trade Preferences: Economic Issues and Policy Options [February 24, 2011]
"Since 1974, Congress has created multiple trade preference programs designed to foster economic growth and development in less developed countries. These programs give temporary, non-reciprocal, duty-free U.S. market access to select exports of eligible countries. Congress conducts regular oversight of these programs, often revising and extending them. The 112th Congress may consider two major issues relating to trade preference programs: (1) the expiration of the Generalized System of Preferences (GSP) on December 31, 2010; and (2) continued extension of the Andean Trade Preference Act beyond February 12, 2010. The 112th Congress may also consider broader reform of the preference programs based on comprehensive reviews in hearings held in both the House and the Senate in the 111th Congress."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Hornbeck, J. F. (John F.); Jones, Vivian Catherine
2011-02-24
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Trade Preferences: Economic Issues and Policy Options [January 10, 2013]
"Since 1974, Congress has created multiple trade preference programs designed to foster economic growth, reform, and development in less developed countries. These programs give temporary, non-reciprocal, duty-free U.S. market access to select exports of eligible countries. Congress has repeatedly revised and extended these programs. The112th Congress passed extensions to three trade preference programs: (1) the Generalized System of Preferences (GSP) which expired on December 31, 2010 and was renewed retroactively from that date to July 31, 2013 (P.L. [Public Law] 112-40); (2) the Andean Trade Preference Act (ATPA) for Colombia and Ecuador until July 31, 2013 (P.L. 112-42); and (3) a 'third-country fabric' provision in the African Growth and Opportunity Act (AGOA) until September 30, 2015 (P.L. 112-163). Since the GSP and ATPA programs were only extended until the end of July 2013, Congress may consider further renewal of these programs in the first session of the 113th Congress, along with possible trade preference reform options. Three bills in the 112th Congress, S. 105, S. 1244, and H.R. [House Resolution] 2387, propose a new trade preference program that would provide duty-free and reduced tariff treatment for certain apparel from the Philippines. Other bills in the 112th Congress proposing preference programs include S. 1443, which would provide trade preferences for selected Asian and South Pacific countries."
Library of Congress. Congressional Research Service
Jones, Vivian Catherine; Hornbeck, J. F. (John F.); Villarreal, M. Angeles
2013-01-10
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Trade Preferences: Economic Issues and Policy Options [November 14, 2012]
"Since 1974, Congress has created multiple trade preference programs designed to foster economic growth, reform, and development in less developed countries. These programs give temporary, non-reciprocal, duty-free U.S. market access to select exports of eligible countries. Congress has repeatedly revised and extended these programs. The 112th Congress passed extensions to three trade preference programs: (1) the Generalized System of Preferences (GSP) which expired on December 31, 2010 and was renewed retroactively from that date to July 31, 2013 (P.L. 112-40); (2) the Andean Trade Preference Act (ATPA) for Colombia and Ecuador until July 31, 2013 (P.L. 112-42); and (3) a 'third-country fabric' provision in the African Growth and Opportunity Act (AGOA) until September 30, 2015 (P.L. 112-163). Since the GSP and ATPA programs were only extended until the end of July 2013, Congress may consider further renewal of these programs in the first session of the 113th Congress, along with possible trade preference reform options. Three bills in the 112th Congress, S. 105, S. 1244, and H.R. 2387, propose a new trade preference program that would provide duty-free and reduced tariff treatment for certain apparel from the Philippines. Other bills in the 112th Congress proposing preference programs include S. 1443, which would provide trade preferences for selected Asian and South Pacific countries. […] This report discusses the major U.S. trade preference programs, their possible economic effects, stakeholder interests, and legislative options."
Library of Congress. Congressional Research Service
Jones, Vivian Catherine; Hornbeck, J. F. (John F.); Villarreal, M. Angeles
2012-11-14
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Pacific Alliance: A Trade Integration Initiative in Latin America [October 2, 2014]
"The Pacific Alliance is a regional integration initiative formed by Chile, Colombia, Mexico, and Peru on April 28, 2011. Its main purpose is for members to form a regional trading bloc and forge stronger economic ties with the Asia-Pacific region. Costa Rica and Panama are candidates to become full members once they meet certain requirements. The United States joined the Alliance as an observer on July 18, 2013. The United States has free trade agreements with all four countries and has significant trade and foreign policy ties with the region. The Pacific Alliance is of interest to Congress because of the role of the United States as an observer country and also because of the strong linkages between the United States and the member countries. It may also be of interest to Congress in the context of the ongoing negotiations for the proposed Trans- Pacific Partnership (TPP) agreement. Three of the four Pacific Alliance member countries are participating in the TPP negotiations. The Alliance was officially created when the heads of state of Chile, Colombia, Mexico, and Peru signed a 'Presidential Declaration for the Pacific Alliance', now known as the Lima Declaration. The objectives are to build an area of deep economic integration; to move gradually toward the free circulation of goods, services, capital, and persons; to promote economic development, regional competiveness, and greater social welfare; and to become a platform for trade integration with the rest of the world, with a special emphasis on the Asia-Pacific region. One of the requirements for membership is that a country must have free trade agreements with all other member countries."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles
2014-10-02
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U.S.-Mexico Economic Relations: Trends, Issues, and Implications [December 6, 2018]
"The U.S.-Mexico bilateral economic relationship is of key interest to the United States because of Mexico's proximity, the extensive cultural and economic ties between the two countries, and the strong economic relationship with Mexico under the North American Free Trade Agreement (NAFTA). The United States and Mexico share many common economic interests related to trade, investment, and regulatory cooperation. The two countries share a 2,000-mile border and have extensive interconnections through the Gulf of Mexico. There are also links through migration, tourism, environmental issues, health concerns, and family and cultural relationships. Congress has maintained an active interest on issues related to NAFTA renegotiations and the recently signed U.S.-Mexico-Canada trade agreement (USMCA); U.S.-Mexico trade and investment relations; Mexico's economic reform measures, especially in the energy sector; the Mexican 2018 presidential elections; U.S.-Mexico border management; and other related issues."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Flynn, Paul J.
2018-12-06
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U.S.-Mexico Economic Relations: Trends, Issues, and Implications [November 4, 2016]
"The U.S.-Mexico bilateral economic relationship is of key interest to the United States because of Mexico's proximity, the high volume of trade with Mexico, and the strong cultural and economic ties between the two countries. The United States and Mexico share many common economic interests related to trade, investment, and regulatory cooperation. The two countries share a 2,000 mile border and have extensive interconnections through the Gulf of Mexico. There are also links through migration, tourism, environmental issues, health concerns, and family and cultural relationships. The 114th Congress has maintained an active interest on issues related to the proposed Trans-Pacific Partnership (TPP) agreement and possible effects on U.S.-Mexico trade relations; NAFTA [North Atlantic Free Trade Agreement] and WTO [World Trade Organization] trade issues; U.S.-Mexico trade and investment issues; Mexico's economic reform measures, especially in the energy sector; and U.S.-Mexico border management. Congress has also taken an interest in the economic policies of Mexico's President, Enrique Peña Nieto. Since entering into office on December 1, 2012, Peña Nieto has successfully driven numerous economic and political reforms that include, among other measures, opening up the energy sector to private investment, countering monopolistic practices, passing fiscal reform, making farmers more productive, and increasing infrastructure investment. […] This report provides an overview of U.S.-Mexico economic relations, trade trends, the Mexican economy, NAFTA, and trade issues between the United States and Mexico. It will be updated as events warrant."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Flynn, Paul J.
2016-11-04
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U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions [March 25, 2016]
"Congress plays a major role in U.S. trade policy through its legislative and oversight authority. There are a number of major trade issues that are currently the focus of Congress. For example, bills were introduced in the 113th Congress to reauthorize Trade Promotion Authority (TPA), the U.S. Generalized System of Preferences (GSP), and the U.S. Export-Import Bank, and legislative action on these issues could be forthcoming in the 114th Congress. Additionally, Congress has been involved with proposed free trade agreements (FTAs), including the Trans-Pacific Partnership (TPP) involving the United States and 11 other countries and the Transatlantic Trade and Investment Partnership (TTIP) between the United States and the European Union (EU). Also of interest to Congress are current plurilateral negotiations for a Trade in Services Agreement (TISA) and an updated multilateral Information Technology Agreement (ITA) in the World Trade Organization (WTO). Trade and investment policies of major U.S. trading partners (such as China), especially when they are deemed harmful to U.S. economic interests, are also of continued concern to Congress. Recent improved U.S. relations with Cuba have resulted in the introduction of several bills to boost bilateral commercial ties. The costs and benefits of trade to the U.S. economy, firms, workers, and constituents, and the future direction of U.S. trade policy, are the subject of ongoing debates in Congress. This report provides information and context for these and many other trade topics."
Library of Congress. Congressional Research Service
Morrison, Wayne M.; Jackson, James K., 1949-; Jones, Vivian Catherine . . .
2016-03-25
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U.S.-Mexico Economic Relations: Trends, Issues, and Implications [April 27, 2017]
"The economic and trade relationship with Mexico is of interest to U.S. policymakers because of Mexico's proximity to the United States, the high level of bilateral trade, and the strong cultural and economic ties that connect the two countries. Also, it is of national interest for the United States to have a prosperous and democratic Mexico as a neighboring country. Mexico is the United States' third-largest trading partner, while the United States is, by far, Mexico's largest trading partner. Mexico ranks third as a source of U.S. imports, after China and Canada, and second, after Canada, as an export market for U.S. goods and services. The United States is the largest source of foreign direct investment (FDI) in Mexico. [...] The 115th Congress faces numerous issues related to U.S.-Mexico trade and investment relations. The Administration of Donald J. Trump has proposed renegotiating NAFTA [North American Free Trade Agreement], or possibly withdrawing from it. Congress may wish to consider the ramifications of renegotiating or withdrawing from NAFTA and how it may affect the U.S. economy and foreign relations with Mexico. It may also wish to examine the congressional role in a possible renegotiation, as well as the negotiating positions of Mexico and Canada. Mexico has stated that, if NAFTA is reopened, it may seek to broaden negotiations to include security, counter-narcotics, and transmigration issues."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Flynn, Paul J.
2017-04-27
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U.S.-Mexico Economic Relations: Trends, Issues, and Implications [March 27, 2018]
"The U.S.-Mexico bilateral economic relationship is of key interest to the United States because of Mexico's proximity, the extensive cultural and economic ties between the two countries, and the strong economic relationship with Mexico under the North American Free Trade Agreement (NAFTA). The United States and Mexico share many common economic interests related to trade, investment, and regulatory cooperation. The two countries share a 2,000-mile border and have extensive interconnections through the Gulf of Mexico. There are also links through migration, tourism, environmental issues, health concerns, and family and cultural relationships."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Flynn, Paul J.
2018-03-27
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Mexican Economy after the Global Financial Crisis [September 16, 2010]
From the Summary: "The state of Mexico's economy is important for U.S. policymakers for many reasons, most significantly because a prosperous and democratic neighboring country is in the best interest of the United States. The two countries have strong economic, political, and social ties, which have direct policy implications related to bilateral trade, economic competitiveness, migration, and border security. In May 2010, President Barack Obama hosted Mexican President Felipe Calderón at a meeting in the White House in which the two leaders discussed key issues affecting the two countries. They agreed to continue and reinforce cooperation on creating jobs, promoting economic recovery and expansion, and encouraging inclusive prosperity across all levels of society in both countries. The 111th Congress is likely to maintain an active interest in Mexico on issues related to the North American Free Trade Agreement (NAFTA) and other trade issues, economic conditions in Mexico, migration, border security issues, and counter-narcotics."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles
2010-09-16
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U.S.-Mexico Economic Relations: Trends, Issues, and Implications [March 31, 2010]
"Mexico has a population of about 111 million people, making it the most populous Spanish-speaking country in the world and the third-most populous country in the Western Hemisphere. Based on a gross domestic product (GDP) of $875 billion in 2009 (about 6% of U.S. GDP), Mexico has a free market economy with a strong export sector. Economic conditions in Mexico are important to the United States because of the proximity of Mexico to the United States, the close trade and investment interactions, and other social and political issues that are affected by the economic relationship between the two countries. The United States and Mexico have strong economic ties through the North American Free Trade Agreement (NAFTA), which has been in effect since 1994. In terms of total trade, Mexico is the United States' third-largest trading partner, while the United States ranks first among Mexico's trading partners. In U.S. imports, Mexico ranks third among U.S. trading partners, after China and Canada, while in exports Mexico ranks second, after Canada. The United States is the largest source of foreign direct investment (FDI) in Mexico. These links are critical to many U.S. industries and border communities."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Flynn, Paul J.
2010-03-31
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U.S.-Mexico Economic Relations: Trends, Issues, and Implications [Updated January 25, 2008]
"The bilateral economic relationship with Mexico is among the most important for the United States. The most significant feature of the relationship is the North American Free Trade Agreement (NAFTA), which has been in effect since 1994. In terms of total trade, Mexico is the United States' second largest trading partner, while the United States ranks first among Mexico's trading partners. In U.S. imports, Mexico ranks third among U.S. trading partners, after Canada and China, while in exports Mexico ranks second, after Canada. The United States is the largest source of foreign direct investment (FDI) in Mexico. These links are critical to many U.S. industries and border communities. […]. Over the last decade, the economic relationship between the United States and Mexico has strengthened significantly. The two countries continue to cooperate on issues of mutual concern. On March 23, 2005, President Bush met with the leaders of Mexico and Canada to discuss issues related to North American trade, immigration and defense. After the meeting, the three leaders announced the Security and Prosperity Partnership of North America (SPP), an initiative that is intended to increase cooperation and information sharing in an effort to increase and enhance prosperity in the United States, Canada, and Mexico. In March 2006, the three countries agreed to advance the SPP agenda by focusing on five high priority areas. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Flynn, Paul J.
2008-01-25
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U.S.-Mexico Economic Relations: Trends, Issues, and Implications [Updated July 11, 2005]
"The overall effect of NAFTA on the U.S. economy has been relatively small, primarily because two-way trade with Mexico amounts to less than three percent of U.S. GDP. The most significant trade issues that the United States and Mexico are focusing on in 2005 include agricultural products, the trucking industry, and rules of origin. Over the last decade, the economic relationship between the United States and Mexico has strengthened significantly. The two countries continue to cooperate on issues of mutual concern. On March 23, 2005, President Bush met with President Fox and Prime Minister Martin of Canada to discuss issues related to North American trade, immigration and defense. After the meeting, the three leaders announced the Security and Prosperity Partnership of North America (SPP) in which they seek to establish a cooperative approach to advance their common security and prosperity; develop a common security strategy; and promote economic growth, competitiveness, and quality of life. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Villarreal, M. Angeles; Flynn, Paul J.
2005-07-11
