Title: 
Headings:  U.S. Trade Policy: Background and Current Issues
U.S.
 
Trade
 
Policy:
 
Background
 
and
 
Current
 
Issues

Economics
 
of
 
Trade
 

U.S.
 
Trade
 
Trends
 

Components
 
of
 
U.S.
 
Trade
 
Policy
  

U.S.
 
Trade
 
Laws
 
and
 
Policy
 
Tools
 

Trade
 
Promotion
 
Authority
 

The
 
World
 
Trade
 
Organization
 
(WTO)
 

Trade
 
Agreement
 
Negotiations
  

U.S.-China
 
Trade
 
Relations
 

Potential
 
Issues
 
for
 
Congress
 

Disclaimer
 


Content: U.S. Trade Policy: Background and Current Issues
Updated
 
September
 
15,
 
2020
U.S.
 
Trade
 
Policy: Background
 
and
 
Current
 
Issues
Congress
 
plays
 
a
 
major
 
role
 
in
 
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
 
promote
 
U.S.
 
economic
 
growth
 
and
 
competitiveness
 
by: (1)
 
reducing
 
global
 
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.
 
firms
 
and
 
workers
 
adversely
 
affected
 
by
 
“unfair”
 
foreign
 
trade
 
practices
 
and
 
trade
 
liberalization. Congress
 
has
 
deliberated
 
and
 
legislated
 
in
 
response
 
to
 
aspects
 
of
 
the
 
Trump
 
Administration’s
 
trade
 
policy,
 
including
 
the
 
President’s
 
use
 
of
 
unilateral
 
tariffs,
 
the
 
priorities
 
and
 
scope
 
of
 
U.S.
 
trade
 
agreement
 
negotiations,
 
and
 
the
 
U.S.
 
approach
 
to
 
China
 
and
 
other
 
trading
 
partners. Economics
 
of
 
Trade
 
Economic
 
theory
 
holds
 
that
 
international
 
trade
 
can
 
be
 
beneficial
 
at
 
the
 
national
 
level,
 
but
 
benefits
 
and
 
costs
 
can
 
be
 
unevenly
 
distributed
 
or
 
concentrated.