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China's Exchange Rate Peg: Economic Issues and Options for U.S. Trade Policy
The continued rise in the U.S.-China trade imbalance and complaints from U.S. manufacturing firms and workers over the competitive challenges posed by cheap Chinese imports have led several Members to call for a more aggressive U.S. stance against certain Chinese trade policies they deem to be unfair, such as China’s policy of pegging its currency (the yuan) to the U.S. dollar. Some Members assert this policy constitutes a form of “currency manipulation” intended to give China an unfair trade advantage and is contributing to the loss of U.S. manufacturing jobs.
China's Rare Earth Industry and Export Regime: Economic and Trade Implications for the United States
Over the past few years, the Chinese government has implemented a number of policies to tighten its control over the production and export of "rare earths"-a unique group of 17 metal elements on the periodic table that exhibit a range of special properties, such as magnetism, luminescence, and strength. Rare earths are important to a number of high technology industries, including renewable energy and various defense systems. This report examines the economic and trade implications of China's rare earth policies for the United States.
Japan-U.S. Trade: A Chronology of Major Events, 1980-1990
Former U.S. Ambassador to Japan Mike Mansfield once classified U.S. Japanese relations as "the most important bilateral relationship in the world, bar none." Over the past decade, tensions between the two nations increased markedly, due largely to U.S. concerns over the sharp rise in the U.S. Japan bilateral trade imbalance and to the growing competitive challenge posed by Japan. This paper provides a chronology of major trade events between the United States and Japan from 1980 through 1990 in order to provide a perspective of major trade issues between the two nations. The appendix provides selected data on trade between the two countries over this period.
H.R. 5100: Major Trade Legislation of the 102d Congress
The 102d Congress considered H.R. 5100, the Trade Expansion Act of 1992, an omnibus trade bill covering a wide range of issues. The bill became the legislative vehicle for a variety of pending trade bills. H.R. 5100 was reported by the House Ways and Means Committee on June 23, 1992, taken up by the House on July 8,1992, amended, and passed. However, the bill received no action in the Senate. H.R. 5100 included provisions pertaining to market access for various U.S.
U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions
This report discusses trade issues relevant to Congress. The report is divided into four sections in a question-and-answer format: trade concepts; U.S. trade performance; formulation of U.S. trade policy; and trade and investment issues.
U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions
This report discusses trade issues relevant to Congress. The report is divided into four sections in a question-and-answer format: trade concepts; U.S. trade performance; formulation of U.S. trade policy; and trade and investment issues.
U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions
This report discusses trade issues relevant to Congress. It is divided into four sections in a question-and-answer format: trade concepts; U.S. trade performance; formulation of U.S. trade policy; and trade and investment issues.
U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions
This report discusses trade issues relevant to Congress. It is divided into four sections in a question-and-answer format: trade concepts; U.S. trade performance; formulation of U.S. trade policy; and trade and investment issues.
A "Managed Trade" Policy Toward Japan?
This report examines: (1) the definition(s) of managed trade, (2) the underlying economic arguments for and against such policies, (3) past U.S. experiences with managed trade, (4) perceptions that Japan is somehow "different" from other trading nations and warrants a distinctive approach to resolving trade disputes, (5) the implications of the Administration's current results oriented approach to U.S.-Japan trade issues, and (6) alternative proposals offered in Congress to resolve trade disputes with Japan.
U.S. Trade Concepts, Performance, and Policy: Frequently Asked Questions
This report provides information and context for trade topics. It is intended to assist Members and staff who may be new to trade issues. The report is divided into four sections in a question-and-answer format: trade concepts; U.S. trade performance; formulation of U.S. trade policy; and trade and investment issues.
International Law and Agreements: Their Effect upon U.S. Law
This report provides an introduction to the roles that international law and agreements play in the United States. This includes the role of different branches of government play in navigating such laws.
The FTC's Used Car Rule
This report discusses the Federal Trade Commission's (FTC) used car rule, which aims to prevent and discourage oral misrepresentations and deceptive omissions of material facts by those selling used cars concerning warranty coverage and mechanical condition.
Financial Stability Oversight Council: A Framework to Mitigate Systemic Risk
This report describes the mission, membership, and scope of the Financial Stability Oversight Council (FSOC). It provides an analysis of several major policy issues related to the FSOC that may come before the 113th Congress.
Treasury Issues White Paper on Fintech and Marketplace Lending
This report briefly discusses the context and contents of a white paper issued on May 10, 2016 by the U.S. Department of the Treasury. The paper analyzes regulatory issues for the marketplace lending industry and offers several recommendations for industry and government responses.
Financial Stability Oversight Council: A Framework to Mitigate Systemic Risk
This report describes the mission, membership, and scope of the FSOC. It provides an analysis of several major policy issues related to the FSOC that may come before the 112th Congress. This report is intended to be used as a reference by congressional staff working on financial issues. The macroeconomic policy rationales for various financial crisis-related issues are summarized, and a glossary is provided to assist in understanding technical terms. This report is not intended to be read from cover to cover, but instead may be more useful as issues related to the FSOC arise.
The Dodd-Frank Wall Street Reform and Consumer Protection Act: Titles III and VI, Regulation of Depository Institutions and Depository Institution Holding Companies
This report discusses Titles III and VI of the Dodd-Frank Act, which effectuate changes in the regulatory structure governing depository institutions and their holding companies and, thus, constitute a substantial component of the reform effort.
The Dodd-Frank Wall Street Reform and Consumer Protection Act: Titles III and VI, Regulation of Depository Institutions and Depository Institution Holding Companies
This report discusses Titles III and VI of the Dodd-Frank Act, which effectuate changes in the regulatory structure governing depository institutions and their holding companies and, thus, constitute a substantial component of the reform effort.
Financial Privacy Laws Affecting Sharing of Customer Information Among Affiliated Institutions
This report provides an analysis of the current federal law and a brief description of state laws that appear to provide more consumer protection with respect to the issue of information sharing among affiliates.
The "National Security Exception" and the World Trade Organization
This report examines the meaning of the national security exception in Article XXI of the General Agreement on Tariffs and Trade (GATT)--a provision also implicated in a recent World Trade Organization (WTO) dispute between Russia and Ukraine; a blockade of Qatar by Saudi Arabia, Bahrain, and the United Arab Emirates; and a few other disputes.
The Federal Trade Commission’s Regulation of Environmental Marketing Claims and Related Legal Issues
This report examines the Federal Trade Commission's (FTC's) role in regulating environmental marketing claims under the FTC Act and other federal laws. It begins with an overview of the FTC's enforcement powers under the FTC Act, including their potential extraterritorial application to unfair or deceptive claims made by foreign entities outside of the United States' territorial jurisdiction. It then examines how the FTC has exercised its powers under the act and other laws in the environmental marketing context. The report concludes by considering legal issues potentially implicated by regulating environmental marketing claims, including questions involving the First Amendment, international trade law, and federal preemption of state law.
APEC and Free Trade in the Asia Pacific
This report discusses the summit held by President Bill Clinton and other leaders of the Asia Pacific Economic Cooperation (APEC) on November 19, 1995. The report discusses the primary reason for the summit, an Action Agenda intended to lead to free and open trade and investment among its members. The report also discusses how APEC countries were divided on certain issues going into this summit.
APEC and the 1997 Summit in Vancouver
This report discusses the November 25, 1997 summit held by leaders of the Asia Pacific Economic Cooperation (APEC) in Vancouver, B.C., Canada. The purpose of the summit was to further pursue the APEC agenda of endorsing a framework developed by APEC leaders' finance ministers to promote financial stability in the Asia-Pacific region and to supplement resources by the International Monetary Fund when necessary.
APEC - Asia Pacific Economic Cooperation: Free Trade and Other Issues
As a result of an initiative by Australia in 1989, the United States joined with eleven other Asia/Pacific nations in creating APEC, the Asia Pacific Economic Cooperation organization. This report discusses the annual Ministerial Meeting of APEC in Seattle, held from November 17 - 19, 1993.
Asia Pacific Economic Cooperation (APEC) and the 2000 Summit in Brunei
On November 15-16, 2000, the Eighth Asia Pacific Economic Cooperation (APEC) Leaders' Meeting (summit) was held in Bandar Seri Begawan, Brunei. In addition to the APEC summit, President Clinton held bilateral summits with several leaders of APEC countries ­ including China, Russia, Japan, and South Korea. For the United States, APEC raises fundamental questions of special interest to Congress. One is whether consensus can be achieved on the APEC vision of free trade and investment in the Asia Pacific or whether future trade liberalization will be confined primarily to bilateral free-trade agreements or multilateral trade negotiations under the World Trade Organization. Others are whether provision of fast-track negotiating authority to the President should cover negotiations under APEC and whether APEC should be expanded to address political as well as economic issues.
Asia Pacific Economic Cooperation (APEC), Free Trade, and the 2001 Summit in Shanghai
This report is on Asia Pacific Economic Cooperation (APEC), Free Trade, and the 2001 Summit in Shanghai.
Asia Pacific Economic Cooperation (APEC), Free Trade, and the 2001 Summit in Shanghai
On October 20-21, 2001, the Ninth APEC Leaders’ Meeting (summit) was hosted by China in Shanghai. The office theme for APEC 2001 was “Meeting New Challenges in the New Century: Achieving Common Prosperity through Participation and Cooperation” with the sub-themes of: (1) sharing the benefits of globalization and the new economy, (2) advancing trade and investment, and (3) promoting sustained economic growth. For the United States, APEC raises fundamental questions that are of special interest to Congress. One is whether consensus can be achieved on the APEC vision of free trade and investment in the Asia Pacific or whether future trade liberalization will be confined primarily to bilateral free-trade agreements or multilateral trade negotiations under the World Trade Organization.
Asia Pacific Economic Cooperation (APEC), Free Trade, and the 2002 Summit in Mexico
On October 26-27, 2002, the Tenth APEC Leaders’ Meeting (summit) was hosted by Mexico in Las Cabos, Mexico. The official theme for APEC 2002 is to expand the benefits of cooperation for economic growth and development and enable the APEC vision to be implemented. For the United States, APEC raises fundamental questions that are of special interest to Congress. One is whether consensus can be achieved on the APEC vision of free trade and investment in the Asia Pacific or whether future trade liberalization will be confined primarily to bilateral free-trade agreements or multilateral trade negotiations under the World Trade Organization.
Asia Pacific Economic Cooperation (APEC), Free Trade, and the 2002 Summit in Mexico
On October 26-27, 2002, the Tenth APEC Leaders’ Meeting (summit) was hosted by Mexico in Las Cabos, Mexico. The official theme for APEC 2002 is to expand the benefits of cooperation for economic growth and development and enable the APEC vision to be implemented. For the United States, APEC raises fundamental questions that are of special interest to Congress. One is whether consensus can be achieved on the APEC vision of free trade and investment in the Asia Pacific or whether future trade liberalization will be confined primarily to bilateral free-trade agreements or multilateral trade negotiations under the World Trade Organization.
Asia Pacific Economic Cooperation (APEC), Free Trade, and the 2003 Summit in Bangkok, Thailand
On October 20-21, 2003, the Eleventh APEC Leader’s Meeting (informal summit) was held in Bangkok, Thailand. The theme for APEC 2003 is “A World of Differences: Partnership for the Future” which is intended to bring together the best potential of all APEC economies to confront the challenges of the future, particularly in achieving the APEC goal of free and open trade and investment for developed APEC economies. For the United States, APEC raises fundamental questions that are of special interest to Congress. One is whether consensus can be achieved on the APEC vision of free trade and investment in the Asia Pacific or whether future trade liberalization will be confined primarily to bilateral free-trade agreements or multilateral trade negotiations under the World Trade Organization.
Automobiles Imported from Japan
In recent years, U.S. automotive imports from Japan have seen an increasing at an unusually rapid pace. Congress is considering measures that alleviate the situation and in June 1980 concurrently resolved to promote the competitiveness of U.S. industry in world automobile and truck markets. As a result of the restraint agreement, automobile imports from Japan dropped from 1.99 million units in 1980 to 1.91 million units in 1981 (calendar year).
Congress and Trade Policy Toward Japan
Congressional policymaking with respect to trade with Japan is driven by strong domestic interests, appeals to broad political principles, and numerous horror stories. The $43 billion U.S. trade deficit with Japan continues to be a focus of attention, but the deficit is an issue because it reflects aggressive competition between Japanese companies and U.S. industries.
Deregulation as Market Opening in Japan
Deregulation of Japan's economy is of interest to the United States because regulations may work as nontariff barriers to U.S. exports and contribute to the $60 billion U.S. bilateral merchandise trade deficit. Excessive regulations also may hamper the ability of the Japanese economy to recover from recession and to augment world wide economic growth. The United States has submitted a request of about 200 items that it would like Japan to deregulate. Negotiations are continuing under the Framework Talks, and some of the items will likely be included in the Japanese government's five-year plan to deregulate and liberalize its economy.
Dispute Settlement Under the WTO and Trade Problems with Japan
Under the World Trade Organization (WTO), the United States may use the dispute settlement mechanism to resolve certain trade problems with Japan. As compared with the mechanism under the General Agreement on Tariffs and Trade (GATT), the WTO offers expanded coverage and nearly automatic approval for panel requests and reports.
Dispute Settlement Under the WTO and Trade Problems with Japan
Under the World Trade Organization (WTO), the United States may use the dispute settlement mechanism to resolve certain trade problems with Japan. As compared with the mechanism under the General Agreement on Tariffs and Trade (GATT), the WTO offers expanded coverage and nearly automatic approval for panel requests and reports.
East Asian Regional Architecture: New Economic and Security Arrangements and U.S. Policy
No Description Available.
The Federal Reserve's Arrangement for Emergency Loans to Japanese Banks
The U.S. Federal Reserve reportedly has an arrangement with the Bank of Japan to provide emergency loans to Japanese banks operating overseas in exchange for U.S. Treasury securities. The collateralized loans would be extended on short notice for banks facing emergency liquidity needs. The purpose of the arrangement is to forestall the possible sale by Japanese banks of large amounts of U.S. Government securities (thereby raising U.S. interest rates) and to boost confidence in Japan's financial system. The loans would not risk U.S. taxpayers' funds. The Chairmen of both House and Senate Banking Committees have made statements about the arrangement, thus making it a matter oflegislative interest.
Financial Services Trade with Japan
The 1995 U.S.-Japan Financial Services Agreement further liberalizes aspects of Japan's financial markets, particularly in asset management, corporate securities, cross-border financial services, and in providing greater transparency for administrative procedures. Implementation will have to be monitored, however, and some issues still remain unresolved.
Globalized Supply Chains and U.S. Policy
No Description Available.
Globalized Supply Chains and U.S. Policy
This report discusses the challenges and opportunities raised by the globalized world of business, in which production becomes fragmented into discrete activities that can be spread geographically within and across national borders while remaining integrated organizationally within a multinational company or network of companies. Such globalized production networks are called supply chains or value-added networks.
Japan and an East Asian Trading Bloc
The 1990s are likely to be known as the decade of the trading blocs, although these neo-blocs differ considerably from those of the 1930s. Countries are linking to liberalize the flow of trade and investments across their borders without necessarily raising external barriers. The European Community and the European Free Trade Association are linking to create a European Economic Area, and the United States and Canada have joined in negotiations with Mexico to conclude a North America Free Trade Agreement. In Asia, nations have been studying the idea of a similar arrangement for themselves.
Japan and NAFTA
Japan, as an issue, has entered the debate over U.S. approval of the North American Free Trade Agreement (NAFTA) in several ways. The Clinton Administration has argued that Americans should support NAFTA because if it fails to pass Congress, Japan will rush to negotiate a similar arrangement with Mexico. Proponents of NAFTA also have argued that since Japan opposes NAFTA (because of its presumed protectionism and the benefits it provides to North American businesses), it must be "good for America." Opponents of NAFTA argue that the agreement would provide opportunities for Japanese manufacturers to invest in Mexico and export unfettered to the American market. Also, they assert that NAFTA would be like previous trade agreements, particularly with Japan, that have ended up hurting the U.S. economy. In either case, the effects of NAFTA on Japan would likely be small.
Japan: Resale Price Maintenance
Resale price maintenance occurs when manufacturers control the prices charged by wholesalers or retailers of their products. In Japan, such activities are prohibited, although certain exemptions are allowed. The U.S. concern over the practice is that it could allow Japanese firms to generate a secure profit base in their home market in order to finance aggressive price competition abroad.
Japan-U.S. Trade Relations
This report discusses trade relations between the U.S. and Japan. Commercial aspects of the United States-Japan alliance, in recent years, have begun to dominate the dialogue between the two nations. In particular, friction points have developed over chronic U.S. bilateral trade deficits with Japan, allegations of Japanese protectionism, and rapid incursions into U.S. markets by Japanese export products.
Japan-U.S. Trade: Results of Trade Negotiations
ave Japan's trade concessions resulted in more U.S. exports? One premise of the more results-oriented trade policy toward Japan now being pursued is that past concessions have not caused U.S. exports to Japan to rise. The only success story seems to be that of semiconductors in which a specific goal of 20 percent of the Japanese market was set and attained.
Japan-U.S. Trade: Results of Trade Negotiations - An Issue Overview
On May 25, 1989, President Bush proposed that the United States undertake the Structural Impediments Initiative (SII), a series of discussions with Japan to address certain fundamental Japanese economic policies and business practices that the United States claims impede U.S. exports and investments. The SII was, in part, a Bush Administration response to the stubborn U.S. trade deficit and other problems that have caused friction in the U.S. trading relationship with Japan. It was also a response to congressional pressure to deal more aggressively with Japanese unfair trade practices and to calls from critics to adopt a "managed" trade policy toward Japan.
Japan's Import Protection: Quantitative Measures and Effects on U.S. Exports
Some indirect measures of Japan's import barriers indicate that Japan's import behavior is unusual, but some do not. Japan's trade surplus is large, but the United States exports as much to that market as it does to other major industrialized nations. Japan's imports of manufactures, however, are low relative to levels in other industrialized nations.
Japan's International Trade Patterns, Institutions, and Policies
This report presents an overview of Japan's performance in its trading relations. The report begins with a discussion of the development, size, and importance of Japan's international trading sector. It then examines the composition, institutions, and policies for trade. This is followed by a review of Japan's balance of payments, capital flows, value of the yen, and direction of trade.
Japan's Keiretsu: Industrial Groups as Trade Barriers
A prominent feature of Japan's capitalism consists of families of companies called keiretsu that are linked by crossholdings of stock shares, intra-group financing, and certain coordinating mechanisms. Two types of keiretsu exist: large horizontally organized industrial conglomerates, such as Mitsubishi, Mitsui, and Sumitomo, and vertically integrated manufacturers, such as Toyota, Nippon Steel, and Matsushita Electric. They have become a contentious issue in U.S. trade negotiations with Japan for several reasons.
JETRO and International Trade Promotion by Japan
JETRO, the Japan External Trade Organization, has played a key role in Japan's system for trade promotion. It is a public corporation, a quasi-governmental organization, operating under the general supervision of Japan's Ministry of International Trade and Industry (MITI).
The Proposed U.S.-Malaysia Free Trade Agreement
This report addresses the proposed U.S.-Malaysia free trade agreement (FTA). It provides a brief overview of the Malaysian economy, a review of U.S. interests in the proposed agreement, an examination of possible issues likely to arise during the negotiations, a comparison of tariff rates between the two countries, legislative procedures, and an appendix with a brief chronology and trade data — including U.S. exports to Malaysia by sector and exports to Malaysia by state.
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