American Limits to Multilateral Trade Liberalization

Since the ratification of the General Agreement on Tariffs and Trade, the United States has moved towards a policy of trade liberalization that endeavors to retain its leading position in the global economy. Partly due to the self-interest of the United States, the Doha Round has failed. This essay elaborates on the foreign trade relations of the United States and discusses the chronology, objectives and failure of the Doha Round. Three arguments are presented for why the United States' trade liberalization policy has changed and caused the Doha Round to fail. The first argument explains the protectionist strategy of the United States regarding its agricultural sector. The second argument goes into the emerging economies that are threatening the leading position of the United States. The third and final argument points out alternative negotiations on trade, for example the Transatlantic Trade and Investment Partnership and the Trans-Pacific Partnership, that have partly replaced the...Show moreSince the ratification of the General Agreement on Tariffs and Trade, the United States has moved towards a policy of trade liberalization that endeavors to retain its leading position in the global economy. Partly due to the self-interest of the United States, the Doha Round has failed. This essay elaborates on the foreign trade relations of the United States and discusses the chronology, objectives and failure of the Doha Round. Three arguments are presented for why the United States' trade liberalization policy has changed and caused the Doha Round to fail. The first argument explains the protectionist strategy of the United States regarding its agricultural sector. The second argument goes into the emerging economies that are threatening the leading position of the United States. The third and final argument points out alternative negotiations on trade, for example the Transatlantic Trade and Investment Partnership and the Trans-Pacific Partnership, that have partly replaced the objectives of the Doha Round on a regional level.Show less

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American Limits to Multilateral Trade Liberalization