International Economic Policy

International Economic Policy - The U.S. Trade...

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International Economic Policy The United States is part of a global economy. We buy goods from and sell goods to  other countries. Foreign companies operate here, and American firms have operations  overseas. The U.S. position on questions of trade, finance, and monetary policy are  important to institutions like the United Nations'  World Bank  and  International  Monetary Fund (IMF).  The World Bank provides loans and technology assistance for  economic development projects in member states, and the IMF seeks to promote  international monetary cooperation, currency stability, and international trade.  In recent years, the principal international economic issue for the United States has  been trade. The Office of the U.S. Trade Representative within the Executive Office of  the President is responsible for developing and implementing the nation's trade policy. 
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Unformatted text preview: The U.S. Trade Representative, who holds cabinet rank, is the principal advisor to the president on trade issues. The United States has helped negotiate many different sorts of trade agreements over the years, to ensure continued access to foreign goods and open markets abroad for goods manufactured in the United States. The General Agreement of Tariffs and Trade (GATT), for example, was created after World War II to provide a forum for negotiating international agreements based on free trade principles. It has been superseded by the World Trade Organization (WTO). Through these negotiations, the United States has tried not only to keep foreign markets open but also to ensure that other countries respect patents on American products....
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