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Expanding Market Opportunities Through Trade Policy: Office of the U.S. Trade Representative

Expanding Market Opportunities Through Trade Policy: Office of the U.S. Trade Representative. September 28, 2012. Sushan Demirjian Deputy Assistant U.S. Trade Representative for Market Access and Industrial Competitiveness. Office of the U.S. Trade Representative.

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Expanding Market Opportunities Through Trade Policy: Office of the U.S. Trade Representative

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  1. Expanding Market Opportunities Through Trade Policy:Office of the U.S. Trade Representative September 28, 2012 Sushan Demirjian Deputy Assistant U.S. Trade Representative for Market Access and Industrial Competitiveness

  2. Office of the U.S. Trade Representative • Develop and coordinate President’s international trade policy • Lead trade negotiations with other countries to open foreign markets and reduce trade barriers overseas • Implement and enforce U.S. trade agreements, including through dispute settlement • Through an interagency structure, coordinate trade policy, resolve disagreements, and frame issues for presidential decision • Organized by regional and functional offices

  3. Trade Policy: International Economic Cooperation • Important element of overall U.S. foreign policy: • strengthening trade and commercial relationships • Benefits for trading partners and for U.S. business: • increased market access for goods and services • increased investment and investment protection • transparency and rule-of-law • Develop opportunities to cooperate in other international forums and on other international economic issues

  4. Trade Policy Venues • Multilateral • World Trade Organization (WTO) • Organization for Economic Cooperation and Development (OECD) • G-8 and G-20 • Regional • North American Free Trade Agreement (NAFTA) • Central America-Dominican Republic FTA (CAFTA-DR) • Trans-Pacific Partnership (TPP) • Asia Pacific Economic Cooperation Forum (APEC) • Bilateral • Free Trade Agreements (FTAs) • Bilateral Investment Treaties (BITs) • Trade and Investment Framework Agreements (TIFAs) • U.S.-China Joint Commission on Commerce and Trade (JCCT) • U.S.-EU Transatlantic Economic Council (TEC) • U.S.-India Trade Policy Forum • U.S.-Brazil CEO Forum

  5. World Trade Organization (WTO) • 154 Members, including most major economies (Russia is newest Member) • Formed in 1995 from the General Agreement on Tariffs and Trade (GATT) • WTO agreements and rules are based on the principles of non-discrimination: Most Favored Nation (MFN) and national treatment • The Uruguay Round Agreements • cover issues such as goods, services, investment, intellectual property, technical barriers to trade (TBT), sanitary and phytosanitary measures (SPS), import licensing, government procurement • Dispute Settlement Understanding and Dispute Settlement Body • Additional agreements on information technology, civil aviation, etc. • WTO structure includes numerous committees that meet regularly to review the implementation of the agreements

  6. Free Trade Agreements (FTAs) • Israel • Korea • Jordan • Mexico • Morocco • Nicaragua • Oman • Peru • Singapore • Australia • Bahrain • Canada • Chile • Colombia • Costa Rica • Dominican Republic • El Salvador • Guatemala • Honduras Pending : Panama Negotiating: Trans-Pacific Partnership (TPP) with Australia, Brunei, Chile, Malaysia, New Zealand, Singapore, Peru and Vietnam (Canada and Mexico to join soon) FTA Tariff Tool: http://export.gov/FTA/FTATariffTool

  7. Key Elements of U.S. FTAs • market access and tariffs on industrial goods, agricultural products, and textiles • rules of origin and customs administration • cross-border trade in services • investment and financial services • competition • intellectual property rights • labor and environment • telecommunications and e-commerce • government procurement • technical barriers to trade (TBT) and sanitary and phytosanitary measures (SPS) • transparency and anti-corruption • dispute settlement

  8. Bilateral Investment Treaties (BITs) • Protect U.S. investment abroad and foreign investment in the United States • Ensure that the host country treats investors from the BIT partner as favorably as its own investors or those from any other country • The United States currently has 40 BITs in force: http://tcc.export.gov/Trade_Agreements/Bilateral_Investment_Treaties/index.asp

  9. Trade and Investment Framework Agreements (TIFAs) • Provide strategic frameworks and principles for dialogue on trade and investment issues • Forum to meet and discuss issues of mutual interest with the objective of improving cooperation and enhancing opportunities for trade and investment • Topics for consultation and possible further cooperation may include market access issues, labor, the environment, protection and enforcement of intellectual property rights • Monitor bilateral trade and investment relations • The Unites States currently has 45 TIFAs in force: http://www.ustr.gov/trade-agreements/trade-investment-framework-agreements

  10. Thank you Sushan Demirjian Deputy Assistant U.S. Trade Representative for Market Access and Industrial Competitiveness Office of the U.S. Trade Representative 202-395-5656 sdemirjian@ustr.eop.gov

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