Understanding the Economic Implications & Constraints of U.S. Multilateral & Bilateral Free Trade Agreements by Analyzing NAFTA and the U.S.-Colombian FTA

2010 ◽  
Vol 6 ◽  
Author(s):  
Fabiani A Duarte ◽  
Fabiani A Duarte
Keyword(s):  
Economic Development ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Unintended Consequences ◽  
Economic Implications ◽  
The U.S

By providing over $24 billion in foreign assistance to 154 countries, the United States was the largest economic and humanitarian aid donor in the world in 2008 (Schaefer, 2006; Tarnoff & Lawson, 2009). By viewing the U.S. government through this lens, U.S. free trade agreements (FTA), like U.S. foreign aid, assist economically-weaker countries to develop while advancing specific U.S. foreign policy initiatives. By analyzing NAFTA’s effects on Mexico’s economic growth and the provisions of the signed U.S.-Colombian Free Trade Agreement, this paper demonstrates the inefficiencies and unintended consequences of multilateral and bilateral FTAs. The analysis concludes by suggesting an alternative approach to proactive and productive economic development: regional economic FTAs. Keywords: free trade agreement (FTA), tariff, economic development program, foreign direct investment (FDI), internally displaced persons (IDPs), bilateral FTA, multilateral FTA, regional FTA

scholarly journals The contradictions of regionalism in North America

2009 ◽  
Vol 35 (S1) ◽  
pp. 147-167 ◽  
Author(s):  
ANN CAPLING ◽  
KIM RICHARD NOSSAL
Keyword(s):  
North America ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Economic Implications ◽  
The North ◽  
The World

AbstractStudents of regionalism almost reflexively include North America in their lists of regions in contemporary global politics. Inevitably students of regionalism point to the integrative agreements between the countries of North America: the two free trade agreements that transformed the continental economy beginning in the late 1980s – the Canada–US Free Trade Agreement that came into force on 1 January 1989, and the North American Free Trade Agreement (NAFTA) between the United States, Mexico, and Canada, that came into force on 1 January 1994 – and the Secutity and Prosperity Partnership of North America (SPP), launched in March 2005. These agreements, it is implied, are just like the integrative agreements that forge the bonds of regionalism elsewhere in the world. We argue that this is a profound misreading, not only of the two free trade agreements of the late 1980s and early 1990s and the SPP mechanism of 2005, but also of the political and economic implications of those agreements. While these integrative agreements have created considerable regionalisation in North America, there has been little of the regionalism evident in other parts of the world. We examine the contradictions of North America integration in order to explain why North Americans have been so open to regionalisation but so resistant to regionalism.

Bilateral Free Trade Agreements: Boon or Bane for Regionalism in East Asia and the Asia-pacific?

2005 ◽  
Vol 4 (2) ◽  
pp. 287-314 ◽  
Author(s):  
Christopher Dent
Keyword(s):  
Structural Foundation ◽  
East Asia ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Asia Pacific ◽  
Distant Future

AbstractSince the late 1990s there has been a rapid proliferation of bilateral free trade agreement (FTA) projects in East Asia and the Asia-Pacific, regions previously largely devoid of FTA activity by comparison to others. As this trend has intensified, so have discussions on whether it will help advance regional co-operation and integration. This paper examines the nature of FTAs themselves and the main causes of East Asia and Asia-Pacific FTAs. The 'lattice regionalism' hypothesis is considered: whether dense economic bilateralism provides a sub-structural foundation on which economic regionalism (i.e. co-operation and integration) can build. Closely related is the issue of competing FTA models and modalities in the Asia-Pacific, and special attention is afforded to the 'asymmetric neoliberal' FTA model of the United States and the 'developmental–industrial' FTA model championed by Japan. It is argued that the contrasts between these make the emergence of an Asia-Pacific FTA unlikely in even the distant future. Japan's FTA model is also considered relative to perhaps East Asia's most important FTA project, the ASEAN–China FTA (ACFTA), and we discuss how bilateral FTA developments in the region more generally may or may not lead to enhanced regional economic co-operation and integration in East Asia.

scholarly journals The History and Future of Peru’s Fast Growing Economy

Perceptions ◽  
2018 ◽  
Vol 4 (1) ◽  
Author(s):  
Alessandra Restifo
Keyword(s):  
Free Trade ◽  
Economic History ◽  
Free Trade Agreement ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
The Pacific ◽  
The World ◽  
Growing Economy

After the United States’ withdrawal from the Trans-Pacific Partnership (TPP), the world of free trade entered a free-for-all, as countries searched for a viable course of direction toward a new free trade agreement. Peru seems to be leading an organized effort for the development of free trade agreements both within Latin America and across the Pacific. This is not surprising, as an analysis of Peru’s economic history will demonstrate. Despite its social complications, free trade has usually led to prosperity for Peru. With it currently being one of Latin America’s fastest growing economies, the loss of the TPP grants Peru the opportunity to see if their endurance and success will continue as they become more internationally integrated. If Peru succeeds with its plans of expanding free trade, which is analyzed in this paper, the country may serve as a model for countries just embarking to participate in the world of free trade economic policy.

scholarly journals U.S. Trade Relations with Arab Countries: Past, Present, and Future

Global Jurist ◽  
2009 ◽  
Vol 9 (2) ◽  
pp. 1-55
Author(s):  
Bashar H Malkawi
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Arab Countries ◽  
Global Integration ◽  
Industrial Zones ◽  
The Impact ◽  
The U.S

Arab countries have adopted market economy principles and pursued policies designed to strengthen their economies. The cornerstone of Arab countries' long-term economic objectives has been to increase trade and support economic growth via regional and global integration. To this end, Arab countries are attempting to broaden their engagement in the multilateral trading system by joining the World Trade Organization (WTO). In addition, some Arab countries entered into trade arrangements with the United States (U.S.) to foster economic development, attract investment, and develop peaceful relationship. These trade agreements carry several implications for local economies.The purpose of this paper is to examine the implications of the trade agreements signed between the U.S. and Arab countries on the economic and legal regimes of the latter. The paper will proceed in two main parts. The first part analyzes the preferential trade arrangement known as "Qualifying Industrial Zones" created between the U.S on the one hand and Jordan, Israel, and Egypt on the other hand. It discusses the general rules of qualifying industrial zones program and the impact of these zones on local production and employment. The second part discusses trade agreements concluded between the U.S. and Arab countries. The emphasis will be on the U.S.-Jordan Free Trade Agreement as it is considered the template for future agreements signed between the U.S. and other Arab countries. The paper analyzes the most important provisions of the U.S.-Jordan Free Trade Agreement and their implications. Then, the paper will analyze trade agreements between the U.S. and other Arab countries. The paper argues that, while current trade programs between the U.S. and those Arab countries analyzed in the paper required difficult reforms in their domestic laws and led some negative consequence, on balance; these trade programs increased trade and created employment opportunities.

scholarly journals Free Trade Agreements With The United States: 8 Lessons For Prospective Parties From Australia’s Experience

2016 ◽  
Vol 5 (2) ◽  
pp. 395-418 ◽  
Author(s):  
Stephen R. Tully
Keyword(s):  
United States ◽  
Intellectual Property ◽  
Property Rights ◽  
Free Trade ◽  
Intellectual Property Rights ◽  
Free Trade Agreement ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States

Abstract This article identifies 8 key lessons for those States contemplating a free trade agreement with the United States (U.S.) arising from Australia’s experience. The standards of intellectual property protection under the Australia-U.S. Free Trade Agreement and their impact on pharmaceutical prices in Australia are a particular focus. Prospective parties must first conduct a national interest self-assessment which reviews the desired strength of intellectual property protection under national law and their preference for using flexibilities available to them under the existing international intellectual property rights framework. The United States negotiates free trade agreements in light of previous ones, negotiating outcomes obtained in other fora and the decisions of international trade tribunals. Negotiations typically occur behind closed doors, which is a process having adverse implications for transparent decision-making, public consultation periods and contributions from interested non-governmental actors. A concluded agreement will build on prior treaties and influence the course of future international arrangements. But the impact of a United States free trade agreement is not always clear, including because of a lack of reliable data, and the extent of national legal change is a contested issue given existing reform agendas and external influences. The United States seek to redesign national health care systems in its own image and had little success in Australia’s case. National legal systems need not be harmonised: although there can be some convergence in intellectual property rights regimes, significant differences may also remain. Negotiators must reconcile competing cultures, philosophies and perspectives between States for a free trade agreement to be worthwhile.

scholarly journals The Next Generation of U.S.-Africa Trade Instruments

AJIL Unbound ◽  
2017 ◽  
Vol 111 ◽  
pp. 384-388 ◽  
Author(s):  
Kathleen Claussen
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Trade Relations ◽  
Trade Law ◽  
Current State ◽  
Challenges And Opportunities ◽  
The U.S

This essay examines the challenges and opportunities for regional trade lawmaking in the U.S.-Africa relationship. On the eve of the conclusion of an African continental free trade agreement, the U.S. trade law relationship with the continent remains focused on regional groups. Questions remain as to whether the existing trade law regime offers the flexibility necessary to accommodate alternative models to free trade agreements that may best serve the needs of African and U.S. constituencies. The essay proceeds in four parts. First, I sketch the current state of play in U.S.-Africa trade relations. Next, I outline how the U.S. and African approaches to trade lawmaking have differed. I then turn to two sets of challenges—one domestic and one international—that may impede innovation in developing a U.S.-Africa trade law relationship consistent with African interests. Finally, the essay concludes with an exploration of possible alternatives and issues not yet considered in the transcontinental dialogue on trade.

The Turkey-UK Free Trade Agreement in Terms of Economic Diplomacy

2021 ◽  
Vol 23 (Fall 2021) ◽  
pp. 193-211
Author(s):  
Kaan Yiğenoğlu
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Bilateral Trade ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The European Union ◽  
Economic Relations ◽  
Economic Diplomacy ◽  
The Uk

This article scrutinizes relations between economic diplomacy and free trade agreements by focusing on the Turkey-UK free trade agreements which came into force in 2021. Accordingly, the article first introduces the concept of economic diplomacy, an important issue as it has been shown that bilateral trade agreements, nowadays preferred by many countries, can be used as a tool of economic diplomacy. The article then discusses the history and development of free trade agreements signed by Turkey, including its long-running experience of economic integration with the European Union. Although Turkey began establishing free trade agreements in the 1990s, it has been concentrating on and accelerating its use since 2000. Based on economic and political reasons underlying the free economic agreements, the reasons why Turkey and the UK have reached such an agreement are summarized. Economic relations between the two countries are then analyzed and the details of the agreement are investigated in the context of the changes that it provides.

scholarly journals The ASEAN Free Trade Agreement and Vietnam’s Trade Efficiency

2017 ◽  
Vol 13 (4) ◽  
pp. 192 ◽  
Author(s):  
Hai Thi Hong Nguyen ◽  
Thang Ngoc Doan
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Trade Volume ◽  
Large Space ◽  
Trading Partners ◽  
Efficiency Performance ◽  
Stochastic Gravity

This study employs a stochastic gravity model to estimate the efficiency performance of Vietnam’s trade with its main trading partners from 1995-2015. Trade efficiency is measured as the ratio of actual trade volume to the maximum likelihood. Moreover. it analyzes the effects of both natural and man-made trade barriers on trade efficiency. The empirical results suggest that the actual trade of Vietnam appears to be much smaller than a possible efficiency level and that there is large space for further progress. Export efficiency outweighs that of import. Vietnam’s ASEAN Free Trade Agreement membership has, in general, improved the trade efficiency, whereas tariffs and domestic devaluation have impaired it. Our findings lead to the recommendation that Vietnam should join more Free Trade Agreements and break down the man-made barriers.

scholarly journals A Study of the Environmental Issues Associated with the Dominican RepublicCentral American Free Trade Agreement (DR-CAFTA)

2011 ◽  
Vol 8 (1) ◽  
Author(s):  
Shyamalendu Sarkar
Keyword(s):  
Free Trade ◽  
Capital Investment ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The United States ◽  
Economic Incentives ◽  
Central American ◽  
Environmental Objectives ◽  
Environmental Requirements ◽  
The U.S

The Dominican Republic-Central American Free Trade Agreement (DR-CAFTA) with the United States was passed on July 28, 2005. The main goal of DR-CAFTA is to create a free trade zone for economic development. The Agreement is highly controversial with many contentious issues including concern about the environment, which is the focus of this study. The concern is that the environmental objectives are expected to be subservient to trade and other economic incentives which will lead to further deterioration of the environment in countries where the environmental standards are already low. The effects on the U.S. environment are expected to be minimal. However, it is feared that the U.S. manufacturing facilities may relocate to Central American countries to take advantage of low wages and low environmental requirements, which may result in loss of jobs and capital investment in the U.S. However, overall DR-CAFTA is expected to be beneficial in many ways, including an increase in trade and economic growth in all participating countries.

Developments Relating to U.S. Trade Negotiations—KORUS, NAFTA, and Trade Promotion Authority

2018 ◽  
Vol 112 (3) ◽  
pp. 510-513 ◽  
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
The North ◽  
Final Agreement ◽  
Trade Promotion ◽  
Trade Deals ◽  
Trump Administration

Consistent with his approach on the campaign trail, President Trump has demonstrated a continued interest in revamping U.S. trade agreements. By the late spring of 2018, the Trump administration had negotiated modest changes to the United States-Republic of Korea Free Trade Agreement (KORUS) in favor of U.S. interests. It had yet to reach any final agreement with regard to the North American Free Trade Agreement (NAFTA), despite the expiration of an initial deadline that was designed to ensure adequate time for a vote on the negotiated agreement by the present Congress. To ease the passage of future trade deals, Trump has triggered the three-year extension of a process that provides expedited congressional consideration of negotiated trade agreements.

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