International Trade and Finance

International Trade

How Preferential Trade Agreements Affect the U.S. Economy

Recent International Trade Developments

Reports on International Trade

  • CRS: International Trade and Finance Issues for the 115th Congress
    • Major Actions in the 114th Congress
       renewed Trade Promotion Authority (TPA) through July 1, 2021 (subject to passage of an extension disapproval resolution in 2018), allowing implementing legislation for trade agreements to be considered under expedited legislative procedures, provided certain statutory requirements are met;
       reauthorized Trade Adjustment Assistance (TAA);
       reauthorized Export-Import Bank (ExIm Bank);
       reauthorized U.S. Customs and Border Protection (CBP);
       authorized U.S. participation in quota and governance reforms at the International Monetary Fund (IMF); and
       maintained economic sanctions against Iran, Cuba, Russia, and other countries.
    • Possible Issues in the 115th Congress
       the effects of trade on the U.S. economy, jobs, and manufacturing, as well as policies that support U.S. workers and industries adversely affected by trade agreements;
       the future of U.S. trade policy in Asia, given President Trump’s January 24, 2017 Executive Order withdrawing the U.S. from the Trans-Pacific Partnership (TPP);
       the status of negotiations for the proposed Transatlantic Trade and Investment Partnership (T-TIP) FTA with the European Union (EU);
       proposals to renegotiate or withdraw from existing FTAs, including the North American Free Trade Agreement (NAFTA), or launch new bilateral trade negotiations, such as with the United Kingdom;
       oversight of World Trade Organization (WTO) agreements and negotiations, including the completed Trade Facilitation Agreement (TFA) and expansion of the Information Technology Agreement (ITA), as well as potential agreements on environmental goods and trade in services;
       U.S.-China trade relations, including investment issues, intellectual property rights (IPR) protection, currency issues, and market access liberalization;
       responses to currency manipulation and the enforcement of U.S. trade laws;
       international finance and investment issues, including oversight of international financial institutions (IFIs), the creation of development and infrastructure banks by emerging economies, and U.S. negotiations on new bilateral investment treaties (BITs), notably with China and India; and
       oversight of international trade and finance policies to support development and/or foreign policy goals, including sanctions on Iran, Cuba, North Korea, Russia, and other countries.
  • CBO: How Preferential Trade Agreements Affect the U.S. Economy
  • CRS: China – US Trade Issues
  • CRS: Major Agricultural Trade Issues
  • CRS: Digital Trade and US Trade Policy
  • CRS: US-UK Free Trade Agreement
  • CBO: The Budgetary Effects of U.S. Participation in the International Monetary Fund
  • CRS: Trade in Service Agreement (TiSA) Negotiations
  • U.S. International Transactions: Trade