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Press release:
Openness fuels solid economic growth
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1. This eighth Trade Policy Review of the United States has provided
an opportunity to discuss changes in U.S. trade policies and practices
since January 2004, revisit issues considered in earlier reviews, and
enhance our understanding of the current state of the U.S. trade and
investment regime. Our discussions have greatly benefited from the
whole-hearted engagement of the U.S. delegation led by Ambassador
Allgeier, from the informed contributions by the discussant,
Ambassador Mohamed, and from the insightful comments made by a large
number of WTO Members.
2. At the outset, I would like to highlight the unequivocal
recognition by Members that the U.S. trade regime is one of the
world's most liberal and transparent. But no trade policy regime is
perfect and Members took advantage of this review to engage the United
States in a frank exchange of views about possible improvements to its
trade regime. The discussions took place in a constructive atmosphere,
and were greatly aided by the efforts made by the U.S. delegation to
provide timely answers to questions which had been submitted two weeks
before the meeting, and to other advance questions posed by Members. I
thank Ambassador Allgeier and his delegation for their hard work in
this respect, and for the U.S. attachment to the TPRM and its
effective operation.
3. The interest shown by Members in the policies of the United States
is evidence of its major role in the multilateral trading system, and
of its economic importance as the world's largest importer and one of
its engines of growth. In this regard, Members were complimentary of
the strong U.S. growth record but expressed concerns about the size
and sustainability of present imbalances. The United States
acknowledged that an open trade policy does not provide the tools to
deal directly with aggregate trade imbalances. The United States also
recognized the desirability of gradual reductions in the size of
current imbalances while preserving economic growth.
4. The United States was commended for its leadership in the
multilateral trading system and the DDA, and was invited to continue
exercising this leadership to facilitate the conclusion of the
negotiations. Members welcomed the steps taken by the United States to
comply with WTO rulings, but noted that in some cases implementation
of rulings was pending or had been delayed. In this regard, the United
States fully recognized its responsibility to implement adverse DSB
rulings. The United States was also asked to submit lagging WTO
notifications. The importance granted by the United States to its
participation in regional trade agreements was stressed, with some
Members considering such participation supportive of multilateral
efforts but others raising concerns about its possible distortionary
effects. A number of developing countries recognized the benefits they
derived from U.S. unilateral preferences but it was also noted that
this should not be at the expense of non-beneficiaries.
5. The U.S. trade regime was acknowledged as being generally open, but
concerns remained in areas such as tariff peaks, non-ad valorem
duties, and the administration of tariff quotas. These measures seemed
to affect in particular textiles and clothing and agricultural
products. Several Members also described certain technical regulations
and SPS measures as significant impediments to trade. Members also
raised the issue of restrictions on government procurement including
at the sub-federal level.
6. Members expressed concern about the continued active use of
anti-dumping measures, and the additional bond requirements introduced
in 2004. While Members noted that investigation initiations had
declined, the United States was urged to exercise restraint in
initiating new investigations. Members also voiced some worry about
government support to agriculture, noting that trade distorting forms
of support were still significant and might have risen recently. The
United States was invited to seize the opportunity for reform provided
by the expiration of the 2002 Farm Act next year. The United States
was also urged to notify up-to-date information on domestic support,
including for programmes under the 2002 Farm Act.
7. Members noted that security considerations continued to play a
prominent role in the formulation of U.S. trade and investment policy.
Thus, they urged the United States to ensure that security-related
initiatives are non-discriminatory and as least trade-restrictive as
possible. The United States committed itself to ensuring that
security-related measures were implemented in a manner that minimizes
disruptions to legitimate commerce. The United States also committed
itself to maintaining an attractive FDI environment, recognizing the
significant benefits that such investment brings.
8. Regarding services, comments were mainly made with respect to
telecommunications, maritime and air transport, financial services, as
well as professional services and movement of natural persons. On
maritime transport, some Members asked the United States to review the
Jones Act, and to table an offer in the context of the ongoing service
negotiations.
9. In closing, I would like to thank again the U.S. delegation for the
oral and written responses provided during the meeting; we all look
forward to receiving answers on outstanding questions. The wide
interest shown by Members in this review reflects the vital importance
of the United States to the multilateral trading system. It also
demonstrates the value of the TRPM even for Members which, like the
United States, maintain largely open and transparent trade and
investment regimes. This review has highlighted a number of possible
improvements to the U.S. regime, many of which could be brought about
as part of the DDA negotiations. In this regard, I am heartened by the
statement by the United States that its long run economic interests
have been very well served by openness. I am also encouraged by the
stated willingness of the United States to take political risks to
achieve, this year, a mutually beneficial outcome to the DDA,
something I would urge all Members to do. |
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