Assigning Blame for Trade Imbalances
Finance professor Michael Pettis writes often about trade imbalances, and as I've followed what he has to say on this subject over the years, I've tried to figure out where exactly he and I disagree.
Collective Restraint vs. Unilateral Action vs. Collective Action in the Face of Overcapacity/Non-Market Policies
There was an interesting exchange at last week's WTO General Council meeting, as Korea submitted a communication entitled "Preserving the spirit of open and predictable trade: Collective restraint against actions undermining trade liberalization." In this communication, Korea raised concerns about the response of other governments to
Guest Post: Section 301 on Forced Labor - A Closer Look at the Public Hearings
The Section 301 Investigation on forced labor has reached the stage of the public hearings. Between April 28 and 29, around 60 representatives of countries, business associations and non-governmental organizations offered their input to inform the USTR determination following the initiation notice.
Tracking Goods Exports under the Trump Administration's Trade Policies
My sense is that one of the reasons some traditionally pro-trade members of Congress have continued to support Trump's trade policies, despite misgivings they may have about tariffs, is because they hope these policies will pry open foreign markets, leading to increased US exports.
Could Congress Extend the USMCA for Another Term?
People have been assuming that the decision on whether to extend the USMCA for another term is up to President Trump, but based on the language of the USMCA related to the upcoming joint review, could Congress actually have the power to make this decision on its own?
A WTO-Compatible Climate Club that Solves our Climate Problem
We argue that the inability of the Paris Climate Agreement to stop the increase in carbon dioxide emissions is because its “name and shame” approach ignores the science of the requirements for an effective international cooperative agreement on climate policy.
Is There No Going Back on Trade? What Is the Path Forward? A Response to Lighthizer
Former U.S. Trade Rep. Bob Lighthizer has a new essay in Foreign Affairs, and I have some thoughts. I'm going to start with his brief big picture points on the direction of U.S. trade policy, and then go through a couple of the specific concepts he emphasizes.
The Section 301 Excess Capacity Investigation Needs Less Madness, More Method
Shortly after the Supreme Court ruled President Trump’s emergency tariffs under IEEPA unconstitutional, the administration scrambled to rebuild its tariff wall. While the announcement of Section 122 tariffs immediately following the ruling will provide a temporary patch, the U.S. Trade Representative’s office quickly began to utilize another
The Australia-EU FTA Data Flows Obligations and Exceptions
The digital trade chapter of the Australia-EU FTA text is a new data point in looking out how governments are crafting data flow provisions and exceptions, as part of an effort to constrain domestic regulations while still providing the space to pursue legitimate public policies.
Scrutinizing and Monitoring Trade Remedies, at the WTO and by Governments
With all the new directions in tariff imposition that have taken place in recent years here in the U.S., traditional trade remedies have been overshadowed to some extent. But they haven't gone away, and in fact are as widely used as ever, both in the U.S. and in other countries.