1. Trade Policy History, Trade Law and Trade Institutions
Steve Suranovic
The George Washington University

2. Recent Trade Issues Rising Anti-Globalization Beliefs
US Withdrawal or Suspicion of FTAs
Renegotiation of KORUS, NAFTA
Withdrawal from TPP

3. Recent Trade Issues US Use of Trade Policy Exceptions
Sect US export harm and IPR violations against China
10% tariffs in place on ~$200 billion
Increase to 25% possible on March 1 just again suspended to allow negotiations to continue

4. Recent Trade Issues US Use of Trade Policy Exceptions
Section 232 (national security)
25% tariffs on steel; 10% on aluminum
Against EU, Canada, China and others
Imminent report on autos may lead to 25% tariffs on EU and other auto imports.

5. Trade Liberalization Eras
Adam Smith, David Ricardo, British Corn Laws
Pre-WWI globalization
Post-WWII (GATT, Asian Tigers, etc)
1990s Uruguay Round surge (WTO era)

6. Trade Protectionism Eras
19th Century tariffs (Wiki)
Great Depression (Smoot- Hawley tariffs)
GATT relapses (VERs, MFA, Agriculture, etc)
Post 2008 Financial Crisis

7. Trade Agreements GATT (General Agreement on Tariffs & Trade – 1948)
WTO (World Trade Organization = GATT+ 1995)
Regional Free Trade Agreements
279 RTAs in force, every WTO member
icipation_map_e.htm

8. GATT/WTO Principles Most Favored Nation (MFN) National Treatment
Do not discriminate between two member countries in trade policies
National Treatment
Do not discriminate in regulations between domestic and imported products

9. GATT/WTO Principles Multilateral Trade Liberalization
8 Rounds of GATT (Geneva, Annecy, Torquay, Geneva, Dillon, Kennedy, Tokyo, Uruguay); 1 failed round in WTO (Doha Development Round)
Tariff averages (a, b)
Tariff Profiles (US, Brazil, China, India, Nigeria)

10. GATT/WTO Principles Trade Remedies (i.e, tariff increases) Antidumping
A) LTFV ; B) Injury to import-competing firms
Anti-Subsidy (CVD)
A) govt. subsidies ; B) Injury to import- competing firms
Safeguards
A) import surge ; B) Injury to import- competing firms

11. US Trade Remedy Actions (# Active)
Count of Product Group
Country AD
CVD
Grand Total
China
120 52
172
India 23 18 41
Korea 26 7 33
Others
185 36
221
Total
354
113
467
Source: USITC, AD and CVD Orders as of Feb 1, 2019

12. Uruguay Round (1986-1994) 1995 WTO Begins New Trade Issues
Services (GATS)
Agriculture (AoA)
Textiles (ATC)
Intellectual Property (TRIPs)

13. WTO Dispute Settlement
1) Consultations
2) Panel Formation
3) Appeal
4) Resolution
a) Comply with DSB decision
b) suspension of concessions

14. WTO Dispute Settlement
Disputes Page (531 since 1995)
DS2 US Reformulated Gasoline
DS26 Hormone treated meat
DS US Steel Safeguards
DS294+ Zeroing in AD cases
Disputes Map