USTR - USTR Statement on WTO’s Review of U.S. Trade Policy
Office of the United States Trade Representative

 

USTR Statement on WTO’s Review of U.S. Trade Policy
03/22/2006

WTO Says "US Openness Fuels Solid Economic Growth"


WASHINGTON – Today, the World Trade Organization released its Trade Policy Review of the United States. U.S. Trade Representative Rob Portman issued the following statement on the report.

"The WTO's review affirms our belief that the United States prospers from open markets. Our economic strength – 3.5% growth in GDP and 2 million new jobs last year – is in part a reflection of our low trade barriers. This is why, as the report recognized, the U.S. economy has been the engine for global growth over the past decade. The United States’ trade weighted average applied tariff is just 1.4%.

"We will continue to vigorously pursue tariff reductions and the removal of non-tariff barriers because it will help generate global economic growth and lift millions from poverty. That is why we are committed to trade liberalization in the Doha Development Round. We will also continue to pursue FTAs because they complement these multilateral efforts to bring down barriers.

"The report identifies that barriers to trade aren’t always economic – at times they are political. We are cognizant of the potential for protectionism in the U.S. and we are actively communicating the real world benefits of trade at home. Economic isolationism, though, is not just a phenomenon in the United States. We all must fight the protectionist forces with the facts, which show that benefits from trade are substantial."

For more information about the World Trade Organization Trade Policy Review:  United States - Openness Fuels Solid Economic Growth

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