Fundamentals of U.S. Foreign Trade Policy: Economics, Politics, Laws, and Issues

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This unique text integrates for the first time the three critical aspects of U.S. foreign trade policy formulation and implementation: economics, politics, and laws. In a comprehensive and nonjudgmental manner, a political scientist, an economist, and a legal scholar combine efforts to present a well-rounded view of the nature and impact of trade policy as well as how it is made. First, they give a quick review of the history of U.S. trade policy and follow this with an explication of key economic principles and ...

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Overview

This unique text integrates for the first time the three critical aspects of U.S. foreign trade policy formulation and implementation: economics, politics, and laws. In a comprehensive and nonjudgmental manner, a political scientist, an economist, and a legal scholar combine efforts to present a well-rounded view of the nature and impact of trade policy as well as how it is made. First, they give a quick review of the history of U.S. trade policy and follow this with an explication of key economic principles and theories. They outline political processes and actors, then examine the laws that emanate from the political arena as they apply to imports, exports, the GATT, and the World Trade Organization.A final section combines the three perspectives in an analysis of key challenges to contemporary U.S. trade: Japan, the European Union, nonindustrialized countries, NAFTA, and the Uruguay Round of GATT trade negotiations. Looking toward the future, the authors conclude that given constant changes in the political, economic, and legal environments of trade, the import and export policies of the United States (and of most other countries) are subject to constant evolution—and occasional revolution.

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Product Details

  • ISBN-13: 9780813317472
  • Publisher: Westview Press
  • Publication date: 2/28/1996
  • Edition description: Older Edition
  • Pages: 311
  • Lexile: 1630L (what's this?)
  • Product dimensions: 6.11 (w) x 9.16 (h) x 0.88 (d)

Meet the Author

Stephen D. Cohen is professor of international relations at the School of International Service at American University. Robert A. Blecker is professor of economics at American University and a research associate of the Economic Policy Institute.

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Table of Contents

List of Tables, Boxes, and Figures
Preface and Acknowledgments
List of Acronyms
1 The Content and Context of Trade Policy 3
2 Historical Survey of U.S. Trade Relations 25
3 Economic Theories of International Trade 55
4 Economic Determinants of a Nation's Trade Performance 83
5 The Formulation and Administration of U.S. Trade Policy: Who Does What 105
6 Decisionmaking Explained: The How and Why of Policymakers' Behavior 121
7 Legislation Regulating Imports and Exports 141
8 The International Legal Framework: The General Agreement on Tariffs and Trade 162
9 Japan: America's Strongest Economic Competitor 175
10 European Union - United States Trade Relations 196
11 Trade Relations with the Nonindustrialized Countries 217
12 Regional Trade Liberalization: The North American Free Trade Agreement 238
13 Multilateral Trade Liberalization: The Uruguay Round Agreement 260
14 Trade Policy Options for the Future 275
15 The Unfinished Agenda 288
Appendix A: U.S. International Trade in Goods and Services: Balance of Payments Basis 297
Appendix B: U.S. International Trade in Goods: Balance of Payments Basis, 1980-1993 298
Appendix C: Commodity Composition of U.S. Goods Trade with the World: Census Basis, 1993 299
Appendix D: Country Composition of U.S. Goods Trade with the World: Census Basis, 1993 300
Appendix E: U.S. Manufactures Trade, 1987 and 1993 301
About the Book and Authors 303
Index 305
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