Edited by Jeffrey J. Schott , Institute for International Economics, April 2004

"This book is a must read for trade policy analysts and negotiators in Asia, since it provides important insights into US foreign trade policy and poses some serious questions on the probable future approach to FTAs with its trading partners." ASEAN Economic Bulletin

In this volume, distinguished economists and trade policymakers address the US initiatives to enter into free trade negotiations with a broad range of countries in the Asia-Pacific region, the Western Hemisphere, and Africa. The sheer number of these initiatives is unprecedented and has provoked major policy questions concerning US interests in the negotiations, the setting of priorities among the many contenders for concluding free trade agreements (FTAs) with the United States, the objectives of those trading partners, and the implications that these agreements could have for broader initiatives such as the Doha Round in the World Trade Organization and the Free Trade Area of the Americas. The volume includes a technical appendix with results of GTAP and gravity model simulations of the trade and welfare effects of the prospective agreements.

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Book Contents (Divided PDFs, Downloadable):

Preface

Acknowledgments

I   Overview

1. Free Trade Agreements: Boon or Bane of the World Trading System?
Jeffrey J. Schott

II   Lessons from US Experience with FTAs

2. Lessons from NAFTA
Gary Clyde Hufbauer and Ben Goodrich

3. Free Trade Agreements as Foreign Policy Tools: The US-Israel and US-Jordan FTAs
Howard Rosen

4. Lessons from the Chile and Singapore Free Trade Agreements
Sidney Weintraub

III   New Initiatives in the Asia Pacific

5. Australia-US Free Trade: Benefits and Costs of an Agreement
Andrew L. Stoler

6. US Free Trade Agreements with ASEAN
Dean A. DeRosa

7. Korea-US Free Trade Revisited
Inbom Choi and Jeffrey J. Schott

8. US-Taiwan Free Trade Agreement Prospects
Nicholas R. Lardy and Daniel H. Rosen

About the Author:

Jeffrey J. Schott is a senior fellow at the Institute for International Economics. During his tenure at the Institute, Mr. Schott has also been a Visiting Lecturer at Princeton University (1994) and an adjunct professor at Georgetown University (1986-88). Previously, Mr. Schott was a senior associate at the Carnegie Endowment for International Peace (1982-83), and an official of the US Treasury Department (1974-1982) in the areas of international trade and energy policy. During the Tokyo Round of multilateral trade negotiations, he was a member of the US delegation that negotiated the GATT Subsidies Code.

Mr. Schott is the author, coauthor, or editor of several recent books on trade, including Prospects for Free Trade in the Americas (2001); Free Trade between Korea and the United States? (2001); NAFTA and the Environment: Seven Years Later (2000); The WTO After Seattle (2000); Launching New Global Trade Talks: An Action Agenda (1998); Restarting Fast Track (1998); The World Trading System: Challenges Ahead (December 1996); WTO 2000: Setting the Course for World Trade (1996); The Uruguay Round: An Assessment (1994); Western Hemisphere Economic Integration (1994); NAFTA: An Assessment (1993); North American Free Trade: Issues and Recommendations (1992); Economic Sanctions Reconsidered: History and Current Policy (second edition, 1990); Completing the Uruguay Round (1990); Free Trade Areas and U.S. Trade Policy (1989); The Canada-United States Free Trade Agreement: The Global Impact (1988); Auction Quotas and United States Trade Policy (1987); and Trading for Growth: The Next Round of Trade Negotiations (1985); as well as numerous articles on US trade policy and the GATT.

Mr. Schott holds a BA degree magna cum laude from Washington University, St. Louis (1971), and an MA degree with distinction in international relations from the School of Advanced International Studies of Johns Hopkins University (1973). He is a past member of the Board of Directors of the International Trade and Finance Association (1993-1995).

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