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NEWS RELEASE 03-109; November 18, 2003
November 18, 2003
News Release 03-109
ITC'S INTERNATIONAL ECONOMIC REVIEW FEATURES ARTICLES ON
THE IMPACT OF TRADE AGREEMENTS, THE RULE OF LAW, AND ATPA IMPORTS
The impact on the U.S. economy of trade agreements, the link between trade openness and the
rule of law, and the atypical year for U.S. imports from ATPA beneficiary countries during 2002
are the topics covered in the current issue of the International Economic Review (IER), a
publication of the U.S. International Trade Commission's Office of Economics.
The IER is produced as part of the ITC's international trade monitoring program. The program's
purpose is to keep the Commission informed about significant developments in international
economics and trade and to maintain the Commission's readiness to provide technical
information and advice to policymakers in the Congress and the executive branch. The opinions
and conclusions of the IER are those of the authors and do not necessarily reflect the views of the
Commission or any individual Commissioner.
The current issue (September/October 2003) includes the following articles:
- The Effects of "Fast-Track" Trade Agreements on the U.S. Economy -- Since 1978, U.S. gross
domestic product increased two-fold and U.S. trade increased four-fold. Five major trade
agreements were signed and implemented by the United States during that period. The
article suggests that these trade agreements have helped spur this trade and economic
growth, but only partly. Other factors including population growth and technology
have played even greater roles. Disentangling and measuring the effects of such trade
agreements on the U.S. economy is the focus of a recent USITC report on the subject.
- Trade Openness, the Rule of Law and Economic Performance: Is There a Link? -- The African
Growth and Opportunity Act (AGOA) offers incentives for Sub-Saharan African
countries to continue their efforts to open their economies and build free markets. By law,
AGOA beneficiary countries are required to undergo an annual review to determine
whether they are making progress toward establishing a market-based economy, the rule
of law and political pluralism, free trade, and economic policies that aim to reduce
poverty and to protect workers rights. This article examines the literature linking trade
openness, the rule of law, and economic performance, and the implications for Sub-
- An Atypical Year in the History of U.S. Imports under the Andean Trade Preference Act -- The
expiration of the Andean Trade Preference Act at the end of 2001, followed by the Act's
retroactive renewal and amendment in August 2002, profoundly affected imports under
this program in 2002 from the beneficiary countries Bolivia, Colombia, Ecuador, and
Peru. These developments also affected overall U.S. imports from these Andean countries
during the year.
In addition, the publication reviews U.S. economic performance relative to other major trade
partners, U.S. trade performance, and economic forecasts. Comparative economic indicators for
major industrialized countries are also provided.
The current issue of the IER (USITC Publication 3638, September/October 2003) will be
available on the ITC's Internet site at www.usitc.gov. To request a printed copy, write to the
Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington,
D.C. 20436, or fax requests to 202-205-2104.
To be added to the mailing list for the publication, write to the Office of Economics, U.S.
International Trade Commission, 500 E Street SW, Washington, D.C. 20436, or fax requests to
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