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HomeBusinessEconomyUSTR releases president Biden’s 2023 trade policy agenda and 2022 annual report

USTR releases president Biden’s 2023 trade policy agenda and 2022 annual report

WASHINGTON, USA – The Office of the United States Trade Representative, on Wednesday, released President Biden’s 2023 Trade Policy Agenda and 2022 Annual Report to Congress. This report details USTR’s work to advance president Biden’s trade agenda over the last two years, as well as its priorities for 2023 and beyond.

“USTR’s worker-centred trade agenda is realizing president Biden’s vision to grow the American economy from the bottom up and the middle out,” ambassador Katherine Tai said. “The 2023 Trade Policy Agenda and 2022 Annual Report details the key accomplishments from the first two years of the Biden administration and our priorities for the year ahead. From enforcing the USMCA to creating innovative trade arrangements with our allies and partners, we will continue to pursue an agenda that will deliver sustainable and inclusive economic prosperity for all.”

In 2022, USTR put the Biden administration’s vision into practice by launching and negotiating historic trade arrangements with our partners in the European Union and Kenya, as well as:

  • The Indo-Pacific Economic Framework for Prosperity: USTR and the Department of Commerce are negotiating an innovative trade framework with 13 countries in the Indo-Pacific region that, combined with the United States, represent 40 percenr of global GDP. The IPEF will tackle 21st century challenges, particularly those exposed during the COVID-19 pandemic and Russia’s invasion of Ukraine.
  • US-Taiwan 21st Century Trade Initiative: 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), are negotiating an ambitious new trade framework that will deepen our longstanding economic and cultural ties.
  • Americas Partnership for Economic Prosperity: Announced in June 2022, the Americas Partnership includes 11 other countries that represent about 90 percent of the Western Hemisphere’s GDP and nearly two-thirds of its people.  This initiative will drive the region’s economic growth and broadly shared prosperity, tackle the core issues that will define the coming decades, and galvanize greater economic cooperation in our hemisphere.

Under ambassador Tai’s leadership, USTR delivered important wins for domestic agricultural stakeholders, including farmers, producers, and processors, as US agricultural exports expanded to a record $202 billion.

The United States – Mexico – Canada Agreement (USMCA) brought concrete outcomes that leveled the playing field for workers and defended the interests of US energy and agricultural producers. In particular, Ambassador Tai worked with labor representatives in Mexico to invoke the Agreement’s Rapid Response Mechanism to resolve multiple violations of workers’ rights, which included securing reinstatement and backpay to workers who were allegedly terminated for participating in union activity. Strong cooperation with Mexico and Canada to enforce the USMCA will raise labor standards across North America and drive a race to the top.

In keeping with president Biden’s promise that America will once again lead on the world stage, USTR strengthened and deepened existing partnerships with our allies, while forging new relationships in key regions and emphasizing the United States’ commitment to multilateral institutions.

In 2022, ambassador Tai helped achieve the first concrete outcomes from a WTO ministerial in nine years, including a modification of intellectual property protections for COVID vaccines to facilitate getting more safe and effective vaccines to those in need; an extension of the moratorium on customs duties on electronic transmissions that reduces trade costs and provides opportunities for small and medium-sized businesses; a multilateral agreement that, for fishing overfished stocks, prohibits subsidies to those engaged in illegal, unreported, and unregulated fishing; and a ministerial declaration on food insecurity.

In 2023, USTR will deliver for US workers and businesses, and for a global trading system that is more resilient, sustainable and equitable. We expect progress on our ongoing trade negotiations, and we look forward to hosting the Asia-Pacific Economic Cooperation (APEC) ministers responsible for trade meetings in Detroit, Michigan in May 2023 as part of the United States’ APEC host year.

Resource: 2023 Trade Policy Agenda and 2022 Annual Report

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