By Yong Kwon
Fourth in a series of policy briefs laying out clear steps to re-think and re-orient US foreign policy.
Key Takeaway: Build a durable political coalition around trade by promoting profit sharing in domestic industries; ending global tax avoidance through international cooperation; and rolling back austerity measures imposed on heavily indebted countries.
The period of growing international trade, punctuated by the formation of the World Trade Organization (WTO) in 1995, coincided with the accelerated displacement of manufacturing jobs in the United States. Although U.S. export of goods and services grew during this period, many people began associating U.S. participation in trade agreements with rising economic insecurity at home. As a consequence, ratification of agreements like the Trans-Pacific Partnership became politically untenable.Continue reading “Restoring Confidence in International Trade”