In its primacy over trade matters under the U.S. Constitution, Congress has broad authority over new and existing trade agreements and could seek to block a "modernized" NAFTA that excludes Canada. Whether Congress has the political will or the votes to do so remains to be seen.
This month, the Syrian Civil War will have lasted seven years. The authors of this brief explore how the United States — first under President Barack Obama and now under President Donald Trump — has struggled to develop a coherent strategy that balances U.S. interests in the conflict with the military, financial and diplomatic resources necessary to pursue them.
This brief on the Trump administration's approach to the battle against ISIS is the first of a three-part series on America's foreign policy in the Middle East. Subsequent reports will examine U.S. policy in Syria and the intensified competition between Iran and traditional U.S. partners in the region, notably Saudi Arabia and Israel.
As Congress resumes work this spring on a bill granting Trade Promotion Authority to President Obama for completion of the Trans-Pacific Partnership trade pact, many members have sought inclusion of a chapter on currency manipulation. Currency manipulation is a legitimate concern. However, countermeasures require clear, objective identification of currency manipulation. Both the IMF and the U.S. Treasury Department have mandates to identify currency manipulation, yet neither has done so in the past 20 years. If it can be done, why has it not happened more often?
In this issue brief, Russell Green, Will Clayton Fellow in International Economics, reviews the difficulties of operationalizing a currency manipulation chapter and argues that the difficulty of identifying currency manipulation suggests serious political obstacles to implementation.
The Trans-Pacific Partnership Agreement offers an opportunity to deepen U.S.-Mexico economic ties without reopening the still contentious North American Free Trade Agreement for negotiation. It may also serve as a vehicle for advancing the current Mexican government’s economic reform agenda. The leaders of the U.S. and Mexico believe that the TPP will bolster domestic economic growth.