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USTR releases President Biden’s 2024 trade policy agenda and 2023 annual report

USTR releases President Biden’s 2024 trade policy agenda and 2023 annual report
Published date:
Tuesday, 05 March 2024

The Office of the United States Trade Representative today released President Biden’s 2024 Trade Policy Agenda and 2023 Annual Report to Congress, which details USTR’s work to advance President Biden’s trade agenda. 

The President’s 2024 Trade Policy Agenda stands up for workers’ rights and sustainable trade practices, supports U.S. farmers, ranchers, fishers, and food manufacturers, bolsters supply chain resilience, addresses unfair policies and practices, and advances inclusive, durable trade policy through expanded engagement.    
 
“Trade is an integral part of our Administration’s vision to fundamentally shift our economic policies to focus on strengthening our middle class and working communities,” Ambassador Katherine Tai said.  

“The 2024 Trade Policy Agenda and 2023 Annual Report include key accomplishments and priorities to realize this vision.  We are creating new and innovative trade arrangements with our allies and partners, enforcing existing ones, and bringing more diverse voices to the table—to drive inclusive economic growth for more people across our society.”
 
USTR is implementing the Biden-Harris Administration’s economic vision by negotiating historic trade arrangements with our allies and partners: 

 

  • U.S.-Taiwan 21st Century Trade Initiative: In June 2023, the United States and Taiwan, under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO), signed the first agreement under the Initiative, which includes high-standard commitments and economically meaningful outcomes in a number of areas.  The United States and Taiwan, under the auspices of AIT and TECRO, will continue negotiating a second agreement covering other economically significant areas.

  

  • U.S.-Kenya Strategic Trade and Investment Partnership: Since launching negotiations in July 2022, the United States and Kenya are continuing discussions on high-standard commitments in a wide range of areas with a view to increasing investment; promoting sustainable and inclusive economic growth; benefiting workers, consumers, and businesses (including micro-, small, and medium-sized enterprises (MSMEs); and supporting African regional economic integration.

 

  • The Indo-Pacific Economic Framework for Prosperity: The United States and our IPEF partners have made considerable and substantial progress on several chapters of the Trade Pillar.  USTR is fully committed to continuing this work to advance our shared vision for a high-standard agreement under the Trade Pillar. 

 

  • Americas Partnership for Economic Prosperity: The United States is working with other founding members to enhance economic cooperation in our hemisphere and drive inclusive, people-centered economic growth.  Building on the Leaders’ Summit of the Americas Partnership in November 2023, USTR is working closely with our partners to establish a Council on Trade and Competitiveness, which will meet regularly to implement the guidance with respect to trade matters in the East Room Declaration of the Leaders of the Americas Partnership.

Under Ambassador Tai’s leadership, USTR is delivering important wins for domestic agricultural stakeholders, including farmers, producers, and processors, as U.S. agricultural exports totaled $181 billion in 2023.

Through the United States – Mexico – Canada Agreement (USMCA), USTR is empowering workers and defending the interests of U.S. energy and agricultural producers.  This includes using the USMCA’s Rapid Response Mechanism to bring tangible benefits to workers, including higher wages, safer working conditions, and reinstatement and backpay to those who were terminated for participating in union activity. 

In line with the Biden-Harris Administration’s goal of creating economic prosperity for all, USTR is taking unprecedented steps to promote equitable, inclusive, and durable trade policy.  This includes hosting first-ever minister-level dialogues with labor and Indigenous leaders during the U.S. host year for the Asia-Pacific Economic Cooperation (APEC).

At the World Trade Organization (WTO), building on the progress made at the Thirteenth Ministerial Conference, Ambassador Tai is working with other WTO Members to reform the organization to restore transparency, rebuild its ability to address emerging challenges, and make the dispute settlement system more effective.

USTR will continue to deliver for U.S. workers and businesses, and for a global trading system that is more resilient, sustainable and equitable.  


Background:

The 2024 Trade Policy Agenda and 2023 Annual Report of the President of the United States on the Trade Agreements Program are submitted to the Congress pursuant to Section 163 of the Trade Act of 1974, as amended.


Download the report HERE

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