USITC Announces The "Economic Impact Of Trade Agreements Under Trade Authorization Procedures" Report

American International

The Commission (USITC) released the "economic impact of trade agreements under trade authorization procedures" report (Economic Impact of Trade Agreements Implemented Under Trade Authorities Procedures, 2016 Procedures).

USITC said that the content of bilateral, regional and multilateral trade agreements has been extensive, solid and pparent in the past 30 years. The report examines the impact of various trade agreements on the US economy since the implementation of the trade authorization process in 1984.

The report covers 15 bilateral and regional trade agreements between the US and trading partners, including the international trade in goods and services, consumer welfare and labor, including the Uruguay Round Agreement.

The contents of investment, intellectual property and small and medium-sized enterprises are summarized below.

(1) USITC estimates that as of 2012, the agreements increased exports of the United States by 3.6%, imports increased by 2.3%, real GDP grew by 0.2%, employment increased by 0.1%, and real wages increased by 0.3%.

(two) bilateral and regional agreements expanded the bilateral trade flows between us and trading partners in 2012, of which the average growth rate of traded goods and services was 26.3%.

(three) bilateral and regional agreements have positive effects on the balance of merchandise trade in the United States. In 2015, the amount of trade surplus increased or the trade deficit decreased to 87 billion 500 million US dollars.

(four) WTO and the trade related intellectual property agreement (TRIPS) become effective and patent protection. In the 2010 years, the United States increased its income by 12.6% of its intellectual property internationally.

(five) the effect of trade agreements on outsiders is different.

(six) during the 2014 years, the amount of tariffs saved by the United States through bilateral and regional agreements amounted to US $13 billion 400 million, greatly improving consumer welfare.

(seven) some agreements improve the diversity of US imports.

(eight) industry-specific agreements is more influential than general trade agreements:

1, the 2010 information technology agreement (ITA) increased 56.7% of the US's exports of IT products (the scope of the calculation is limited to the products covered by the agreement).

2, the Uruguay round and the North American free trade agreement tariff reduction in 2010 increased the 14.7% steel imports in the United States.

3, from 1998 to 2014, WTO textiles and

The Agreement on Textiles and Clothing has increased the number of garments imports in the United States, and has also contributed to the reduction of employment in the apparel sector.