U.S. foreign trade and global economic policies have changed direction dramatically during the more than two centuries that the United States has been a country. In the early days of the nation's history, government and business mostly concentrated on developing the domestic economy irrespective of what went on abroad. But since the Great Depression of the 1930s and World War II, the country generally has sought to reduce trade barriers and coordinate the world economic system. Americans are convinced that trade promotes economic growth, social stability, and democracy in individual countries and that it advances world prosperity, the rule of law, and peace in international relations.
Over the past decade, U.S. exports accounted for about a quarter of the economic growth. The United States also maintains a trade surplus in services, $79.7 billion in 2006. The biggest U.S. services export category was travel by foreigners to the United States, $85.8 billion that year. In contrast, the United States runs a large and growing deficit in merchandise goods trade. While the United States exported more than $1 trillion in goods in 2006, it imported more than $1.8 trillion worth. By far the top imports that year were autos and auto parts, $211.9 billion, and crude oil, $225.2 billion. The top sources of U.S. imports were Canada, China, Mexico, Japan, and Germany. Among the top U.S. exports in 2006 were autos and auto parts, semiconductors, and civilian aircraft. The top U.S. export destinations were Canada, Mexico, Japan, China, and the United Kingdom. In 2000-2006, even though U.S. goods exports increased 33 percent, U.S. goods imports went up even faster, 52 percent.
The United States supported trade liberalization and was instrumental in the creation of the General Agreement on Tariffs and Trade (GATT), an international code of tariff and trade rules. One other principle the United States traditionally has followed in the trade arena is multilateralism. Despite its commitment to multilateralism, the United States in recent years also has pursued regional and bilateral trade agreements. The emergence of electronic commerce also is opening a whole new set of trade issues. In 1998, ministers of the World Trade Organization issued a declaration that countries should not interfere with electronic commerce by imposing duties on electronic transmissions, but many issues remain unresolved. The United States would like to make the Internet a tariff-free zone, ensure competitive telecommunications markets around the world, and establish global protections for intellectual property in digital products.
Over the past decade, U.S. exports accounted for about a quarter of the economic growth. The United States also maintains a trade surplus in services, $79.7 billion in 2006. The biggest U.S. services export category was travel by foreigners to the United States, $85.8 billion that year. In contrast, the United States runs a large and growing deficit in merchandise goods trade. While the United States exported more than $1 trillion in goods in 2006, it imported more than $1.8 trillion worth. By far the top imports that year were autos and auto parts, $211.9 billion, and crude oil, $225.2 billion. The top sources of U.S. imports were Canada, China, Mexico, Japan, and Germany. Among the top U.S. exports in 2006 were autos and auto parts, semiconductors, and civilian aircraft. The top U.S. export destinations were Canada, Mexico, Japan, China, and the United Kingdom. In 2000-2006, even though U.S. goods exports increased 33 percent, U.S. goods imports went up even faster, 52 percent.
The United States supported trade liberalization and was instrumental in the creation of the General Agreement on Tariffs and Trade (GATT), an international code of tariff and trade rules. One other principle the United States traditionally has followed in the trade arena is multilateralism. Despite its commitment to multilateralism, the United States in recent years also has pursued regional and bilateral trade agreements. The emergence of electronic commerce also is opening a whole new set of trade issues. In 1998, ministers of the World Trade Organization issued a declaration that countries should not interfere with electronic commerce by imposing duties on electronic transmissions, but many issues remain unresolved. The United States would like to make the Internet a tariff-free zone, ensure competitive telecommunications markets around the world, and establish global protections for intellectual property in digital products.
No comments:
Post a Comment