{ "id": "RL33944", "type": "CRS Report", "typeId": "REPORTS", "number": "RL33944", "active": true, "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source": "EveryCRSReport.com", "id": 451185, "date": "2016-03-25", "retrieved": "2016-04-06T16:53:34.254781", "title": "U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions", "summary": "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.\nThis 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. The 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.\nThe first section, \u201cTrade Concepts,\u201d deals with why countries trade, the consequences of trade expansion, and the relationship between globalization and trade. Key questions address the benefits of specialization in production and trade, efforts by governments to influence a country\u2019s comparative advantage, how trade expansion can be costly and disruptive to workers in some industries, and some unique characteristics of trade between developed countries.\nThe second section, \u201cU.S. Trade Performance,\u201d lists data on U.S. trade flows and focuses on the U.S. trade deficit, including its implications for the U.S. economy. Questions address the causes of trade deficits, the role of foreign trade barriers, and how the trade deficit might be reduced. \nThe third section, \u201cFormulation of U.S. Trade Policy,\u201d deals with the roles played by the executive branch, Congress, the private sector, and the judiciary in the formulation of U.S. trade policy. Information on how trade policy functions are organized in Congress and the executive branch, as well as the respective roles of individual Members and the President, is provided. The roles of the private sector and the judiciary are also discussed.\nThe fourth section, \u201cU.S. Trade and Investment Policy Issues,\u201d lists questions related to trade negotiations and agreements and to imports, exports, and investments. The justification, types, and consequences of trade liberalization agreements, along with the role of the WTO, are treated in this section. The costs and benefits of imports, exports, and investments are also discussed, including how the government deals with disruption and injury to workers and companies caused by imports and its efforts to both restrict and promote exports. The motivations and consequences of foreign direct investment flows are also discussed.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33944", "sha1": "46fbc942e17d0bdbec44b6594e7cdef6d31931ce", "filename": "files/20160325_RL33944_46fbc942e17d0bdbec44b6594e7cdef6d31931ce.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33944", "sha1": "62b04b7e17f119f114117a6adf65febaeb919322", "filename": "files/20160325_RL33944_62b04b7e17f119f114117a6adf65febaeb919322.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 365, "name": "U.S. and International Trade Agreements" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc795750/", "id": "RL33944_2015Nov05", "date": "2015-11-05", "retrieved": "2016-01-13T14:26:20", "title": "U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions", "summary": "This report discusses trade issues relevant to Congress. It 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.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20151105_RL33944_0b97c2023ec1dcbf1358bdd12b479214602ab5a2.pdf" }, { "format": "HTML", "filename": "files/20151105_RL33944_0b97c2023ec1dcbf1358bdd12b479214602ab5a2.html" } ], "topics": [ { "source": "LIV", "id": "Trade", "name": "Trade" }, { "source": "LIV", "id": "International trade", "name": "International trade" }, { "source": "LIV", "id": "Foreign trade policy", "name": "Foreign trade policy" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc770541/", "id": "RL33944_2015Aug03", "date": "2015-08-03", "retrieved": "2015-11-04T09:58:14", "title": "U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions", "summary": "This report discusses trade issues relevant to Congress. It 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.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20150803_RL33944_b3d17e33d7ab9d1fa696134fc01d3752e4cde5c9.pdf" }, { "format": "HTML", "filename": "files/20150803_RL33944_b3d17e33d7ab9d1fa696134fc01d3752e4cde5c9.html" } ], "topics": [ { "source": "LIV", "id": "Trade", "name": "Trade" }, { "source": "LIV", "id": "International trade", "name": "International trade" }, { "source": "LIV", "id": "Foreign trade policy", "name": "Foreign trade policy" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc811483/", "id": "RL33944_2015Jan30", "date": "2015-01-30", "retrieved": "2016-03-19T13:57:26", "title": "U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20150130_RL33944_208cd312f811a2521c3633bc7dbf0b17eb3aaa57.pdf" }, { "format": "HTML", "filename": "files/20150130_RL33944_208cd312f811a2521c3633bc7dbf0b17eb3aaa57.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc491104/", "id": "RL33944_2014Nov17", "date": "2014-11-17", "retrieved": "2015-01-27T19:40:46", "title": "U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions", "summary": "This report discusses trade issues relevant to Congress. The 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.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20141117_RL33944_a6dce614bc1fac8b4cebd07350d5416563acf922.pdf" }, { "format": "HTML", "filename": "files/20141117_RL33944_a6dce614bc1fac8b4cebd07350d5416563acf922.html" } ], "topics": [ { "source": "LIV", "id": "Trade", "name": "Trade" }, { "source": "LIV", "id": "International trade", "name": "International trade" }, { "source": "LIV", "id": "Foreign trade policy", "name": "Foreign trade policy" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc805657/", "id": "RL33944_2013Jan18", "date": "2013-01-18", "retrieved": "2016-03-19T13:57:26", "title": "Trade Primer: Qs and As on Trade Concepts, Performance, and Policy", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20130118_RL33944_ad79a9dbef740cfbfd2db1a0d48f86fb6b7dad72.pdf" }, { "format": "HTML", "filename": "files/20130118_RL33944_ad79a9dbef740cfbfd2db1a0d48f86fb6b7dad72.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc85467/", "id": "RL33944_2012Apr16", "date": "2012-04-16", "retrieved": "2012-06-06T14:34:05", "title": "Trade Primer: Qs and As on Trade Concepts, Performance, and Policy", "summary": "The 112th Congress has a full legislative and oversight agenda on international trade. The agenda so far has included approval of legislation to implement free trade agreements with Colombia, Panama, and South Korea, and may take up enhanced enforcement of U.S. trade agreements, as well as Russia's accession to the World Trade Organization (WTO) and Permanent Normal Trade Relations (PNTR) status, oversight of the World Trade Organization's Doha Round, and trade relations with China. This report provides information and context for many of these topics. It 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. 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The 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.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20110105_RL33944_0651bb08baad25aa1ae0d97b51b46c4d9da81b04.pdf" }, { "format": "HTML", "filename": "files/20110105_RL33944_0651bb08baad25aa1ae0d97b51b46c4d9da81b04.html" } ], "topics": [ { "source": "LIV", "id": "International trade", "name": "International trade" }, { "source": "LIV", "id": "Trade", "name": "Trade" }, { "source": "LIV", "id": "Trade agreements", "name": "Trade agreements" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc491413/", "id": "RL33944_2010Dec08", "date": "2010-12-08", "retrieved": "2015-01-27T19:40:46", "title": "Trade Primer: Qs and As on Trade Concepts, Performance, and Policy", "summary": "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. The first section on \"Trade Concepts\" deals with why countries trade, the consequences of trade expansion, and the relationship between globalization and trade. The second section, on trade performance, focuses on the U.S. trade deficit and its impact on industries. The third section deals with the roles played by the Executive Branch, Congress, the private sector, and the Judiciary in the formulation of U.S. trade policy. The fourth section, on U.S. trade and investment policy, asks questions related to trade negotiations and agreements and to imports, exports, and investments.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20101208_RL33944_6f5545951337745b076daebc29f8ee95d921507a.pdf" }, { "format": "HTML", "filename": "files/20101208_RL33944_6f5545951337745b076daebc29f8ee95d921507a.html" } ], "topics": [ { "source": "LIV", "id": "Trade", "name": "Trade" }, { "source": "LIV", "id": "Trade agreements", "name": "Trade agreements" }, { "source": "LIV", "id": "International trade", "name": "International trade" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc810914/", "id": "RL33944_2007Mar27", "date": "2007-03-27", "retrieved": "2016-03-19T13:57:26", "title": "Trade Primer: Qs and As on Trade Concepts, Performance, and Policy", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20070327_RL33944_367d69273ce02d41744cf86e21e8ed3be7952699.pdf" }, { "format": "HTML", "filename": "files/20070327_RL33944_367d69273ce02d41744cf86e21e8ed3be7952699.html" } ], "topics": [] } ], "topics": [ "Agricultural Policy", "Asian Affairs", "Economic Policy", "Foreign Affairs", "Industry and Trade" ] }