Sample Essay

Words 1,705

In an assessment of the international trade of United States it is stated:

“The US is the world’s leading trader of goods and services, accounting for about 14 percent of world exports and about 16 percent of imports. Americans benefit directly from this exchange through a greater variety of goods and services at less costly prices.
For over half a century the General Agreement on Tariffs and Trade (GATT) and then the World Trade Organization (WTO) have played a key part in reducing barriers to trade, strengthening international laws, and encouraging economic development in a world that has become increasingly integrated. While there has been progressed, many have argued that further consideration needs to be given to opening markets, improving the operation of WTO, more effectively integrating labor and environmental concerns, and ensuring that the benefits of trade are shared more widely.” (The Council of Economic Advisers)

The world has entered in a New Era in international trade and investment strategy. In the past ten years, our trading partners have become restless, rewriting trade and investment rules and redesigns international economic dealings. Our trading partners no longer deem the United States an essential party to trade and investment discussions. They are cutting deals without us, steadily surrounding the United States with a network of special trade arrangements.

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