1 / 12

President Obama’s and Bush’s Trade Policies

President Obama’s and Bush’s Trade Policies . Sara Cardelle ITRN 701 3/19/2012. Overview . E conomic environment under President Bush E conomic environment under President Obama World Trade Organization-dispute cases T rade Agreements E xport Promotion (Rhetoric)

vidar
Download Presentation

President Obama’s and Bush’s Trade Policies

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. President Obama’s and Bush’s Trade Policies Sara Cardelle ITRN 701 3/19/2012

  2. Overview • Economic environment under President Bush • Economic environment under President Obama • World Trade Organization-dispute cases • Trade Agreements • Export Promotion (Rhetoric) • Strengthens and Weaknesses • Questions

  3. Economy 2001 to 2008 • Surplus from President Clinton • 9/11 • $10.626 trillion in 2008 • 2004: U.S. exports to China -34.7 billion China’s exports to the U.S.- 196.7 billion 2008 : U.S. Exports to China – 65.2 billion China’s exports to the U.S.- 321.5 billion

  4. WTO Dispute Cases Under President Bush • 29 cases filed in total • 7 against China and 7 against European Communities Source: Data from the World Trade Organization

  5. Economy 2009-2012 • 4 million jobs lost under President Bush • 4 million additional jobs

  6. WTO Dispute Cases Under President Obama • 8 total dispute cases • 6 against China • Interagency Trade Enforcement Center • “Play by the rules”- President Obama • "I am confident that the U.S.-China relationship will continue to grow in a constructive way based on mutual respect and mutual interests," –President Obama Source: Data from the World Trade Organization

  7. Rare Earth Minerals Case Against China • 17 Rare Earth Minerals (used to make hybrid cars flat-screen TVs, mobile phones ) • European Union & Japan • “We want our companies building those products in America, but manufactures need to have access to the rare earth materials which China supplies. Now, if China would simply let the market work on its own then we would have no objections, but their policies are currently preventing that from happening.” –President Obama

  8. Interagency Trade Enforcement Center • “ The Center shall coordinate matters relating to enforcement of U.S. trade rights under international trade agreements and enforcement of domestic trade laws among USTR and the following agencies”: - Department of State - Department of the Treasury -Department of Homeland Security -Department of Justice -Department of Agriculture -Department of Commerce • “Will institute a more aggressive 'whole-of-government' approach to getting tough on trade enforcement by monitoring and enforcing U.S. rights under international and domestic trade rules and countering unfair subsidies that tilt the global market against U.S. firms.”

  9. Trade Agreements President Obama President Bush • Panama • South Korea • Colombia • Trans-Pacific Partnership • 14 free trade agreements: -Peru -Bahrain -Dominican Republic

  10. Export Promotion (Rhetoric) President Obama President Bush • I will go anywhere in the world to open new markets for American products. And I will not stand by when our competitors don't play by the rules.“ • “I want to emphasize that the Asia-Pacific region is absolutely critical to America’s economic growth. We consider it a top priority. “And we consider it a top priority because we’re not going to be able to put our folks back to work and grow our economy and expand opportunity unless the Asia-Pacific region is also successful.” – Obama Nov. 2011 • “Good trade policies is fair trade policies.”-Bush Feb. 2008 • "recovering from the financial crisis is going to take time. But we'll recover and, in so doing, begin a new era of prosperity. The nations of APEC have faced tests before. We have risen to meet them together, and we will do so again.“ –Bush during 2008 APEC meeting

  11. Strengthens and Weaknesses • Global Credit Express • Foreign Trade Zones • Double U.S. Exports • Tax credit to companies who file dispute cases • Review of the 17 trade agreements

  12. Questions? • Sources: Morrison, W. (2008). China-U.S. Trade Issues . Washington : CRS . World Trade Organization (WTO). (2012). Retrieved from Chronological list of dispute cases: http://www.wto.org/english/tratop_e/dispu_e/dispu_status_e.htm YouTube. (2008, February 21 ). Retrieved from Governor joins President Bush to highlight trade : http://www.youtube.com/watch?v=w_O7XSVWrG4 YouTube . (2012, March 13). Retrieved from President Obama Speaks on Enforcing Trade Rights with China : http://www.youtube.com/watch?v=LID4TRMEYFA the White House . (2012, February 28). Retrieved from Executive Order -- Establishment of the Interagency Trade Enforcement Center: http://www.whitehouse.gov/the-press-office/2012/02/28/executive-order-establishment-interagency-trade-enforcement-center Los Angeles Times . (2012 , January 24 ). Retrieved from Read President Obama's prepared State of the Union remarks: http://articles.latimes.com/2012/jan/24/news/la-pn-obama-state-of-the-union-remarks-20120124/ Martin, E., & McQuillen, W. (2011, October 12). Bloomberg Businessweek . Retrieved from Free-Trade Deals with Korea, Colombia, Panama pass U.S. Congress : http://www.businessweek.com/news/2011-10-12/free-trade-deals-with-korea-colombia-panama-pass-u-s-congress.html

More Related