Trade monitoring
Report by the United States
As the United States Government undergoes its fourteenth Trade Policy Review—more than any other World Trade Organization (WTO) Member—the United States is committed to reforming the global trading system in ways that lead to fairer outcomes for U.S. workers and businesses, and more efficient markets for countries around the world. U.S. trade policy is driven by a pragmatic determination to use the leverage available to the world’s largest economy to secure these objectives. Our trade policy is steadfastly focused on the national interest, including retaining and using U.S. sovereign power to act in defense of that interest.
Avant-propos du Directeur général de l’OMC
Le commerce et la technologie sont étroitement liés. De l’invention de la roue au chemin de fer et à l’avènement de la conteneurisation, la technologie a toujours joué un rôle clé en façonnant notre manière de faire du commerce et ce phénomène s’accélère comme jamais auparavant. Nous vivons une période de changement technologique sans précédent, et les diverses innovations basées sur Internet pourraient avoir un impact majeur. Par exemple, l’Internet des objets, l’intelligence artificielle, l’impression 3D et la chaîne de blocs pourraient transformer profondément ce qui est échangé, par qui et comment.
The role of trade and trade policy in the development process
Different aspects of the development process have been emphasized by the many scholars and observers who have ventured into this field. The seminal work of Sen (1999) identifies freedom as both the primary end and principal means of development. The Brundtland Commission stressed that development must involve the care and nurturing of the environment for future generations. Others have focused particularly on poverty reduction and the empowerment of poor people. All these approaches consider economic growth a vital component of the development process, while emphasizing that development is about more than growth.
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Quantitative economics in WTO dispute settlement
WTO dispute settlement continues to be the subject of extensive scrutiny by both trade practitioners and academics. Not surprisingly, most of this analysis is legal in nature, touching upon the various arguments that have been put forward by parties to disputes and the legal foundations upon which these disputes are adjudicated. While legal and procedural issues remain the domain of trade lawyers, economists are being called upon with increased frequency on matters that call for economic interpretation or quantification. This should hardly be surprising given that multilateral trade rules reflect key economic principles such as comparative advantage, and that many of the terms in WTO Agreements, which are important in the resolution of disputes, have an economic basis. It may also have to do with the fact that increasing numbers of disputes are reaching the implementation phase, in which arbitrators need to quantify the allowable level of retaliation, as will be further explained below.