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TPP

National DEC and U.S. Chamber of Commerce Hosted 2016 International Trade Symposium

vietnem house international trade symposium

The U.S. Chamber of Commerce and the National District Export Council successfully hosted the Fourth International Trade Symposium in Washington, DC. The Symposium was an annual event that is designed for small business exporters as an educational platform and engagement opportunity on key trade policy initiatives. This year the Symposium focused on the Trans-Pacific Partnership (TPP). The Symposium was open to the public. In this year's International Trade Symposium, attendees enjoyed listening to several aspects of the Trans-Pacific Partnership and joined discussions with the experts, industry representatives and with the officials at the key organizations in the U.S. and Vietnam government.

Agenda of the Fourth International Trade Symposium was as in the following:

 

Welcome by Philip Pittsford - National DEC, Chair Emeritus

Opening Remarks by Mr. Vu Le Thai Hoang, Minister Counselor and Chief Political Officer, Embassy of Vietnam to the U.S.

Panel: The Arguments for the Trans-Pacific Partnership: A Sector Focus

- Jim Fatheree (U.S. Chamber of Commerce) - moderator

- Manufacturing: Ken Monahan (National Association of Manufacturers)

- Financial Services and Insurance: Christine Bliss (Coalition of Service Industries)

- Agriculture: Dave Salmonsen (American Farm Bureau Federation - AFBF)

 

Panel: Engaging Employees, Suppliers, Customers and Community on Trans-Pacific Partnership

- Christopher Wenk (U.S. Chamber of Commerce) - moderator

- Leslie Griffin (UPS)

- Katie Hays (Caterpillar)

- Susanne Stirling (California Chamber of Commerce)

Keynote Remarks by Drew Quinn, Deputy Chief Negotiator for the Trans-Pacific Partnership, U.S. Trade Representative

 

 

How did the U.S. Free Trade Agreements Fare? A Comparative Study

US Free Trade Agreements

By Dr. Andreas Udbye

University of Puget Sound, Seattle, WA

Washington State DEC

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As of 2015, the United States has Free Trade Agreements (“FTA’s”) with twenty partner countries. The main purpose of these agreements is to promote bilateral trade in the form of exports and imports. Their success can be gauged by measuring whether the FTA’s boosted trade at a higher rate than that with comparable non-FTA countries. This paper investigates whether the exports and imports between the U.S. and the twenty partner countries showed higher growth rates after the implementation of the FTA’s, and whether the growth rates were individually and collectively higher than compared to a control group consisting of 82 non-FTA trading partners. The measuring tool is Compound Annual Growth Rates (CAGR). Simpler than an econometric model based on gravity theory, and more accurate than comparing average growth rates, the CAGR is a suitable comparison measure. Older studies investigating international FTA’s have used versions of the gravity model to show significant increases in bilateral trade following the agreements. Unlike this report, none of those studies focused solely on the FTA’s that the U.S. has entered into over the past twenty years.

Compared to the control group, our analysis shows a positive effect of the FTA’s on U.S. exports, but a slightly negative effect on imports. Some of the FTA’s are only a few years old, and a complex global macroeconomic scene over the past ten years makes it harder to generalize. Each country has a different economic story to tell. However, from a trade policy standpoint it may appear that the FTA’s have the intended, incrementally positive effect on U.S. exports. While FTA’s may have significant positive or negative effects on specific sectors and industries, they do not appear to cause dramatic improvements in bilateral trade. In the conclusion of the paper we offer some possible reasons for the FTA’s lackluster performance.

Read Paper here

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