Lectures in Macroeconomics- Charles W. Upton Why Did It Go On?
Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.
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Transcript of Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.
![Page 1: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/1.jpg)
Lectures in Macroeconomics- Charles W. Upton
Freeing Trade
WTO
![Page 2: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/2.jpg)
Freeing Trade
The World Trade Organization
• Set up in last round of tariff reductions
• Designed to decide whether restrictions are legitimate (safety, etc) or effectively restricting free trade.
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Freeing Trade
How the WTO Works
• We believe France is unfairly restricting American Exports and complain to the WTO
![Page 4: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/4.jpg)
Freeing Trade
How the WTO Works
• We believe France is unfairly restricting American Exports and complain to the WTO
• If they agree with France, end of process.
![Page 5: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/5.jpg)
Freeing Trade
How the WTO Works
• We believe France is unfairly restricting American Exports and complain to the WTO
• If they agree with us, we get right to impose punitive tariffs.
• Most nations faced with these punitive tariffs then negotiate end on restrictions.
![Page 6: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/6.jpg)
Freeing Trade
How the WTO Works
• We believe France is unfairly restricting American Exports and complain to the WTO
• If they agree with us, we get right to impose punitive tariffs.
• Most nations faced with these punitive tariffs then negotiate end on restrictions.
![Page 7: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/7.jpg)
Freeing Trade
The Pot Calls the Kettle Black
• In fact, there have been a number of successful complaints against the United States.
• Our record on Free Trade is blemished.
![Page 8: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/8.jpg)
Freeing Trade
The Pot Calls the Kettle Black
• In fact, there have been a number of successful complaints against the United States.
• Our record on Free Trade is blemished.
• President George W. Bush’s Steel Tariffs.
![Page 9: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/9.jpg)
Freeing Trade
The Pot Calls the Kettle Black
• In fact, there have been a number of successful complaints against the United States.
• Our record on Free Trade is blemished.
• President George W. Bush’s Steel Tariffs.
• US Export Subsidies.
![Page 10: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/10.jpg)
Freeing Trade
The Pot Calls the Kettle Black
• In fact, there have been a number of successful complaints against the United States.
• Our record on Free Trade is blemished.
• President George W. Bush’s Steel Tariffs.
• US Export Subsidies.• Byrd Amendment
![Page 11: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/11.jpg)
Freeing Trade
How to Get Free Trade
• Unilateral Action
![Page 12: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/12.jpg)
Freeing Trade
How to Get Free Trade
• Unilateral Action
• Customs Unions– European Union
![Page 13: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/13.jpg)
Freeing Trade
How to Get Free Trade
• Unilateral Action
• Customs Unions
• Free Trade Areas– NAFTA
![Page 14: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/14.jpg)
Freeing Trade
How to Get Free Trade
• Unilateral Action
• Customs Unions
• Free Trade Areas
• Multilateral Negotiations – The WTO
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Freeing Trade
Fast Track Authority
• Gives President authority to negotiate trade treaty with other nations; Congress gets up or down vote.
• Otherwise, any trade negotiation is a treaty, subject to revision in Senate, which will gut treaty.
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Freeing Trade
The Status of Fast Track
• Expired in Clinton Administration.
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Freeing Trade
The Status of Fast Track
• Expired in Clinton Administration.
• Bush Administration made renewal a priority and got it.
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Freeing Trade
The Status of Fast Track
• Expired in Clinton Administration.• Bush Administration made renewal a
priority and got it. Now free trade agreements with– Chile– Singapore– Central America– Australia
– Morocco
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Freeing Trade
The Main Event
• Targets– Intellectual Property Rights– Agricultural Subsidies
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Freeing Trade
The Main Event
• Targets– Intellectual Property Rights– Agricultural Subsidies
• The Two Way Street– We have complaints against other nations, but
we are by no means innocent.
![Page 21: Lectures in Macroeconomics- Charles W. Upton Freeing Trade WTO.](https://reader035.fdocuments.us/reader035/viewer/2022062417/5518c7e6550346b31f8b58a9/html5/thumbnails/21.jpg)
Freeing Trade
End
©2005 Charles W. Upton. All rights reserved