United States

This Trade Policy Review has been a very useful opportunity for Members to understand the economic trade and investment policies of the United States. I would like to thank the delegation led by Ambassador Michael Punke our discussant Ambassador Daniel Blockert and the more than 60 delegations that had either taken the floor or had shared their written statements with us for their valuable contributions.

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.

The United States’ economy has been marked by slow but steady recovery and some re-balancing since its last Review. Merchandise and services trade figures have re-bounded significantly since the 2009 financial crisis and have now reached new peak levels surpassing previous 2008 peak levels. Services trade in particular has shown a growing trade surplus and services account for approximately 70% of U.S. output. The United States has set in motion policies for domestic and international rebalancing; i.e. moving away from consumption and real estate and encouraging export and investment growth.

As an original member of the World Trade Organization (WTO) the United States maintains an abiding commitment to the rules-based multilateral trading system. The WTO represents the multilateral bedrock of U.S. trade policy playing a vital role in securing new economic opportunities for American workers farmers ranchers manufacturers and service providers and promoting global growth and development with widely shared benefits. The WTO agreements also provide a foundation for high-standard U.S. bilateral and regional agreements that make a positive contribution to a dynamic and open global trading system based on the rule of law.