trade

A bipartisan report from the House Select Committee on the Chinese Communist Party says the People’s Republic of China (PRC) has failed to live up to the foundational principles of the World Trade Organization—open, market-oriented, non-discriminatory treatment. In its report, "Reset, Prevent, Build: A Strategy to Win America's Economic Competition with the Chinese Communist Party," the committee calls for resetting the U.S.'s economic relationship with China. They propose to do so, in part, through new research security measures and controls on technology exports.

Last fall, the United States International Trade Commission (USITC) issued its report on the distributional effects of trade and trade policy on under-represented and under-served communities. The report, which had been requested in 2021 by the U.S. Trade Representative Ambassador Katherine Tai, found a disparity in wage and employment among manufacturing workers by race and gender resulting from changes in trade policy. Distributional Effects of Trade and Trade Policy on U.S. Workers, released in October of 2022, was compiled from a series of roundtable discussions between March 1 and April 1, 2022, an academic symposium on April 5-6, 2022, and a public hearing on April 19, 2022. Tai had called for the investigation to better identify and measure the potential distributional effects of U.S. trade and trade policy on U.S. workers, by skill, wage and salary level, gender, race/ethnicity, age, and income level, especially as they affect under-represented and under-served communities.

A recent report from global management consulting firm A.T. Kearney calls into doubt the ability of U.S. trade policy in encouraging domestic manufacturing firms to reshore their production efforts. Following the government’s release of 2018 trade data, A.T. Kearney published the findings from its sixth annual Reshoring Index, which compares year-over-year changes in U.S. manufacturing gross output to imports of manufactured goods from 14 traditionally low-cost country (LCC) trading partners in Asia.