Publication Number: 3638

Report Title: International Economic Review: The Effects of "Fast-Track" Trade Agreements on the U.S. Economy; Trade Openness, the Rule of Law and Economic Performance: Is There a Link? ; An Atypical Year in the History of U.S. Imports under the Andean Trade Preference Act

Author's name(s): Kyle Johnson, Arona Butcher , Laurie-Ann Agama, Magda Kornis

Date Published: October 2003

Report Description/Introductory Text: According to “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?”discusses the African Growth and Opportunity Act (AGOA), which 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-Saharan Africa.

“An Atypical Year in the History of U.S. Imports under the Andean Trade Preference Act” talks about 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 affecting imports under this program in 2002 from the beneficiary countries of Bolivia, Colombia, Ecuador, and Peru. These developments also affected overall U.S. imports from these Andean countries during the year.

USITC, African Growth and Opportunity Act (AGOA), Andean Trade Preference Act (ATPA), Andean Trade Promotion and Drug Eradication Act (ATPDEA), GATT, Tokyo Round, Uruguay Round, NAFTA, U.S.-Canada FTA, Generalized System of Preferences (GSP), Millennium Challenge Account (MCA), the New Partnership for Africa’s Development (NEPAD), African Union.



Topics Covered: USITC, African Growth and Opportunity Act (AGOA), Andean Trade Preference Act (ATPA), Andean Trade Promotion and Drug Eradication Act (ATPDEA), GATT, Tokyo Round, Uruguay Round, NAFTA, U.S.-Canada FTA, Generalized System of Preferences (GSP), Millennium Challenge Account (MCA), the New Partnership for Africa’s Development (NEPAD), African Union

Countries: United States, Bolivia, Colombia, Ecuador, Peru, South Africa

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