The global economic and political order that was created in the aftermath of World War II is under attack by President Trump. That order has been of enormous benefit to the entire world. The international institutions and arrangements that have been created the last seventy years have, I believe, played an important role in these
The Trump administration started the clock on renegotiation of the North American Free Trade Agreement (NAFTA) in its official notice to Congress on Thursday. Robert Lighthizer, Trump’s newly confirmed trade czar, said in a statement that this made good on Trump’s campaign critiques of the pact. Is this just more bluster, or can we expect
The following remarks were delivered to a congressional panel by Roosevelt Fellow Todd Tucker on May 3, 2017. Good afternoon, Leader Pelosi, Co-Chair DeLauro, Co-Chair Swalwell, and esteemed members of the Committee. Thank you for the chance to share some assessments on trade opportunities and challenges as you look to shape a better future for
The Trump administration’s decision last week to punt on labeling China a currency manipulator disappointed some of his supporters, but should not have surprised anyone paying attention to the policy details. Indeed, it’s a culmination of decades of a hyper-legalistic approach to economic strategy. Before delving into the details, let’s look at the basic economics.
It’s been a big week for President Trump’s trade policy. His various moves have been at turns cynical, interesting, and uncertain. We look at examples of each below. The Cynical: NAFTA On Thursday, leaked documents revealed that the administration’s version of Making NAFTA Great Again would make it more like the Trans-Pacific Partnership (TPP). NAFTA,
U.S. foreign policy and the need to cultivate international alliances increasingly conflict with U.S. domestic politics, particularly with regard to trade. The 2016 election featured an outgoing Democratic administration insisting the Trans-Pacific Partnership was the U.S.’s last hope to show its commitment to the Asia-Pacific, a Republican candidate blaming it and other trade deals for
The Brexit vote demonstrated the limits of U.S. pressure. While the U.S. has a long history of intervening in votes in developing countries, recent years have seen a more widespread abandonment of neutrality. In 2014, the U.S. weighed in against the Scottish independence vote. This year, President Obama traveled to England to push Remain, and
In a series of briefs, Roosevelt Institute Senior Fellow and Chief Economist Joseph Stiglitz analyzes the ins and outs of the proposed Trans-Pacific Partnership, explaining why it would structure the rules in ways that would harm the economy and American workers. View the briefs below: Part 1: Beware of TPP’s Investor–State Dispute Settlement Provision Part