The world has achieved almost more free trade in the next round, known as the Doha Round Trade Agreement. If successful, Doha would have reduced tariffs overall for all WTO members, and these agreements between three or more countries are the most difficult to negotiate. The larger the number of participants, the more difficult the negotiations. They are, by nature, more complex than bilateral agreements, insofar as each country has its own needs and requirements. USTR is primarily responsible for the management of U.S. trade agreements. These include monitoring the implementation of trade agreements with the United States by our trading partners, the application of U.S. rights under those agreements, and the negotiation and signing of trade agreements that advance the President`s trade policy. The vast majority of products traded are manufactured products. And manufacturing jobs pay much better than other jobs, especially those created since the last recession. As a result, more than 60 percent, or more than 400,000 of the nearly 700,000 jobs lost because of the U.S.
trade deficit with Mexico, were in the manufacturing sector. Of the 3.2 million jobs lost as a result of our growing trade deficit with China, more than 75 per cent, or 2.4 million jobs, were in the manufacturing sector. As a result, the effects of free trade and investment agreements have not been positive for manufacturing, nor have the vast majority of other U.S. workers. Environmental protection measures can prevent the destruction of natural resources and crops. Labour laws prevent poor working conditions. The World Trade Organization imposes rules on free trade agreements. Trade and investment agreements have also facilitated companies` access to offshore production, which has decimated U.S.
production over the past 20 years. Between 1998 and 2013, more than 80,000 production sites were lost, contributing to the 5.3 million manufacturing jobs lost by the United States between April 1998 and February 2016. (Yes, the Great Recession of 2008-09 was responsible for some of these losses, but today we are still well below the 1998 level of employment in manufacturing, mainly due to persistent trade deficits.) President Trump`s trade agenda was based on four pillars: – Agricultural products totalled $264 billion in 2017. Exports totaled $143 billion; $121 billion in imports; and the trade surplus was $22 billion. Jeff also says that the jobs created by trade agreements are “better paid and higher than displaced people.” And these trade agreements create jobs — the figures mentioned above on job loss are all clear estimates, the difference between the jobs created by exports and the jobs lost because of imports. But while some export jobs may be profitable, research, for example on trade in China, has found that average weekly wages in importing industries pay 17% more than jobs supported by exports to China.