World Trade Organization Essay Research Paper THE

World Trade Organization Essay, Research Paper

THE U.S. ALLIANCE FOR TRADE EXPANSION

The U.S. Alliance for Trade Expansion, representing $2 trillion in annual trade and over 150 million American consumers, farmers, and workers, seeks to promote economic growth, job expansion, and higher living standards in the United States by rules-based multilateral trade liberalization through the World Trade Organization (WTO).

CORE PRINCIPLES

1. TRADE EXPANSION IS IN THE INTEREST

OF ALL AMERICANS.

o Open trade allows Americans to enjoy the best goods and services the world has to offer, and to specialize in the economic activities at which we are relatively more productive. Americans receive these benefits whether or not other nations maintain similarly liberal trade policies, but the benefits are multiplied when other nations also practice open trade.

o Trade expansion is a key driving force for U.S. prosperity. Today s historic combination of high growth, low unemployment, low inflation, and rising wages is in large measure due to America s leadership role in keeping our market open and working to lower trade barriers under the multilateral system.

o Increased trade means stronger economic growth and higher living standards overall. Trade makes U.S. industries, services, and farms more productive. Trade has produced more better-paying jobs and higher income for Americans.

2. THE RULES-BASED TRADING SYSTEM OF

THE WTO CREATES BENEFITS FOR

AMERICANS AND ADVANCES AMERICAN

VALUES ABROAD.

o Americans benefit from WTO agreements because they lower major trade barriers in key export sectors where the U.S. excels, particularly agriculture, high technology, manufacturing and services.

o The WTO is an international body that oversees agreements between the United States and over 130 other member economies to reduce barriers to trade. Building on a foundation established after WWII, the WTO agreements:

establish rules for trade in manufactured goods, agricultural products, services, and intellectual property;

reduce tariffs and other trade-distorting barriers, and eliminate discriminatory foreign barriers to U.S. exports;

respect governments rights to maintain high standards for the environment, health, and safety.

o Core American values the rule of law, peaceable dispute settlement, regulatory due process, and the freedom of individuals to reap the rewards of their efforts are actively promoted by WTO obligations. The WTO s rules-based system includes key elements of fair competition, such as the principles of transparency, non-discriminatory treatment, and accountability.

3. THE NOVEMBER 1999 WTO MINISTERIAL

CONFERENCE IN SEATTLE PROVIDES A

CRITICAL OPPORTUNITY FOR AMERICAN

LEADERSHIP IN SUPPORT OF EXPANDED

TRADE.

o The Ministerial offers a chance to increase the benefits of trade. Expanded trade allows consumers to exercise the freedom to choose, and will lead to better, safer, more efficient products and services from which we all benefit.

o We believe the Ministerial should launch a new multilateral trade negotiation that expands freedom for consumers and creates new opportunities for businesses, farmers, and workers, while preserving the health and safety of people and the environment.

o We also advocate the formation of a new trade framework, in which consumers and business can deal with each other free of tariffs and non-tariff barriers, and of unjustified regulations, paperwork, or procedures which interfere with their freedom to choose.