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Developed countries can assist development by encouraging good policy and opening their markets to developing country products, but success in development ultimately depends on developingcountries' adopting and implementing policies that promote economicfreedom, good governance, and the rule of law, which are the key toeconomic growth and development with or without foreign assistance.
Renewing the President's trade promotion authority to facilitate the completion of bilateral free trade agreements, reforming and reducing the scope of the farm bill to promote a successfulconclusion to the WTO Doha Development Round, and guarding againstpopulist, protectionist trade policy changes would go far towardexpanding economic opportunity in the U.S. and around the world.
The United States must make a meaningful offer to cut agricultural protection if Doha is to progress.
The U.S. should support all measures that would promote growth and employment by increasing economic freedom.
As 2022 winds down, it is worth noting that it has now been 10 years since the United States entered into a free trade agreement (FTA) with new trading partners. Despite claims that the United States is a “hyperglobalist,” the reality is much different. In fact, as Adam Posen of the Peterson Institute for international economics noted in his excellent Foreign Affairs essay last year, the United States has been withdrawing from international economic integration for about 20 years. The consequences of a stagnant trade agenda will become more apparent and pronounced as time passes.