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Making Sense of U.S. Trade Policy: What Recent Negotiations Can Tell Us

Published online by Cambridge University Press:  31 December 2019

Inu Manak
Inu Manak*
Affiliation:
Visiting Scholar, Cato Institute.
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Extract

U.S. trade policy is not what it used to be. Since the U.S. withdrawal from the Trans-Pacific Partnership in January 2017, Indo-Pacific trade relations have been in constant flux. It is not clear where U.S. trade policy will end up, particularly with regard to its relationship with China. However, the conclusion of two renegotiations of previous U.S. trade agreements can tell us generally about the new U.S. approach and what this means for our trading partners. I will discuss developments from the renegotiation of the Korea-U.S. free trade agreement (KORUS) and the U.S.-Mexico-Canada Agreement (USMCA) as a replacement for the North American Free Trade Agreement (NAFTA).

Type
Asia's Response to the U.S. Indo-Pacific Strategy
Information
Proceedings of the ASIL Annual Meeting , Volume 113 , 2019 , pp. 378 - 380
Copyright
Copyright © 2019 by The American Society of International Law

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References

1 Steve Holland, Trump Hints at Withdrawal from U.S.-South Korea Free Trade Deal, Reuters (Sept. 2, 2017), at https://www.reuters.com/article/us-usa-trump-trade-korea/trump-hints-at-withdrawal-from-u-s-south-korea-free-trade-deal-idUSKCN1BD0TB.

2 Office of the United States Trade Representative Press Release, Joint Statement by the United States Trade Representative Robert E. Lighthizer and Republic of Korea Minister for Trade Hyun Chong Kim (Mar. 28, 2018), at https://ustr.gov/about-us/policy-offices/press-office/press-releases/2018/march/joint-statement-united-states-trade.

3 White House Press Release, Remarks by President Trump and President Moon of the Republic of Korea at U.S.-Korea Free Trade Agreement Signing Ceremony (Sept. 24, 2018), at https://www.whitehouse.gov/briefings-statements/remarks-president-trump-president-moon-republic-korea-u-s-korea-free-trade-agreement-signing-ceremony.

4 White House Press Release, President Donald J. Trump Is Fulfilling His Promise on the U.S.-Korea Free Trade Agreement and on National Security (Mar. 28, 2018), at https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-fulfilling-promise-u-s-korea-free-trade-agreement-national-security.

5 Simon Lester & Inu Manak, A Preliminary Assessment of the Amended KORUS FTA, Cato Inst. (Apr. 25, 2018), at https://www.cato.org/blog/preliminary-assessment-amended-korus-fta.

6 Lighthizer: US Strikes 3-Part Trade Agreement with South Korea, CNBC (Mar. 28 2018), at https://www.cnbc.com/video/2018/03/28/lighthizer-us-strikes-3-part-trade-agreement-with-south-korea.html.

7 Seungduk Lee, T he Amended Pricing Policy of Global Innovative New Drugs Is Implemented as Originally Planned Without Further Change, Yakupnews (Jan. 2, 2019), at http://www.yakup.com/news/index.html?mode=view&pmode=&cat=11&cat2=&cat3=&nid=225985&num_start=576 (in Korean); Jihyun Lee, T he Amended Pricing Policy of Global Innovative New Drugs Lost Its Original Intent Due to the KORUS FTA; Multinational Firms Oppose the Policy Again, Hankyung (Jan. 4, 2019), at https://www.hankyung.com/it/article/201901042833f#Redyho.

8 White House Press Release, President Donald J. Trump Is Fulfilling His Promise on the United States–Korea Free Trade Agreement and on National Security (Sept. 24, 2018), at https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-fulfilling-promise-united-states-korea-free-trade-agreement-national-security.