Title: America's Ability to Achieve Its Commercial Objectives and the Operation of the WTO
Abstract: I. PREFACE This Symposium takes place in Washington at the beginning of what should be informed review of the WTO in the light of United States interests. In era of increasing spin in political discourse, it would be particularly welcome if proponents resisted the temptation to overstate their case in favor of the WTO, denying the existence of problems. Nor should they confuse valid criticism for calumny. At the same time, critics of the WTO should not exaggerate the negatives. The WTO is at the center of a world trading system that greatly benefits the United States. The result of the inquiry should focus on areas of needed improvements in the WTO system. This would provide a more sure foundation, both in domestic politics and in substance, for the launch of any new round of multilateral trade negotiations than that which existed in December 1999 in Seattle. It would also provide answer to critics, and could halt the erosion of domestic support for the WTO. This Article covers one important facet of evaluating U.S. membership in the WTO. The topic assigned by the organizers of this program to this author was, first, to examine the ability of the United States, given the existence of the WTO over these last five years: (1) to accomplish America's objectives through bilateral trade agreements and trade policy; and (2) to pursue its interests through unilateral trade policy initiatives. This is a relatively narrow question. The answer is negative. The ability of the United States to accomplish goals bilaterally or to exercise unilateral leverage has definitely been impaired. The conference organizers then asked a more nuanced question. This was to examine the balance between the operation of the WTO agreement, and the ability of the United States to pursue: (1) bilateral trade agreements and trade policy, and (2) unilateral trade policy initiatives. I conclude that the shift toward greater multilateralism is a mixed blessing. There remain serious difficulties in addressing important market access problems abroad, and the WTO is imperfect instrument to resolve many of these problems. Moreover, the WTO poses a threat to the effective employment of the remedies against unfair trade practices--dumping and subsidies. (With the exception of the North American Free Trade Association, the United States is not actively pursuing regional arrangements, but the impediment is not the WTO's rules.) The fact that there are valid, serious concerns with the operation of the WTO should not be taken as argument in favor of withdrawing from the WTO. The United States should stay in. An open international trading system serves America's national interest. That open world trading system, whatever its imperfections, largely takes its shape from the rules contained in the WTO. To the extent possible, I have included suggestions for changes in the WTO and the conduct of U.S. trade policy through other means that can enhance the pursuit of U.S. trade policy objectives. Some of the discussion will appear at times chauvinistic. This flavor comes with the assignment, which is to judge how satisfied the United States ought to be with the current state of affairs judged by U.S. interests. II. INTRODUCTION We Will Be Closed Tuesday, November 30th Due to the Presence of the World Trade Organization. Ironic Isn't It. -- Sign in a Seattle shop window Resolved, That the Congress withdraws its approval ... of the WTO Agreement -- Statutory language of a Resolution of Disapproval Section 125(c)(1) of the Uruguay Round Agreements Act By March 1, 2000, the President will transmit a report to the Congress, which, by law, must include an analysis of the effects of the WTO Agreements on the interests of the United States, the costs and benefits to the United States of its participation in the WTO, and the value of the continued participation of the United States in the WTO. …
Publication Year: 2000
Publication Date: 2000-03-22
Language: en
Type: article
Access and Citation
Cited By Count: 1
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot