Year In Trade 2015 - USITC

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United StatesInternational Trade CommissionThe Year in Trade 2015Operation of the Trade AgreementsProgram67th ReportJuly 2016Publication Number: 4627

United States International Trade CommissionCommissionersIrving A. Williamson, ChairmanDean A. PinkertDavid S. JohansonMeredith M. BroadbentF. Scott KieffRhonda K. SchmidtleinCatherine B. DeFilippoDirector, Office of OperationsWilliam PowersDirector, Office of EconomicsAddress all communications toSecretary to the CommissionUnited States International Trade CommissionWashington, DC 20436

United StatesInternational Trade CommissionThe Year in Trade 2015Operation of the Trade AgreementsProgram67th ReportJuly 2016Publication Number: 4627

This report was prepared principally by:Project LeaderJoanne Guth, Office of EconomicsDeputy Project LeaderLin Jones, Office of EconomicsOffice of EconomicsJustino De La Cruz, Austin Drenski, Jeffrey Horowitz, Danielle Nesmith,James Stamps, Alissa Tafti, Edward Wilson, and Wen Jin YuanOffice of General CounselWilliam W. GearhartOffice of IndustriesArthur Chambers and Laura RodriguezOffice of InvestigationsMary MesserOffice of OperationsYasnanhia CabralOffice of Tariff Affairs and Trade AgreementsNaomi Freeman and Daniel ShepherdsonOffice of Unfair Import InvestigationsDavid LloydOffice of Analysis and Research ServicesRobert Bauchspies, Russell Duncan, Peg Hausman, and Jeremy WiseContent ReviewerWilliam DeeseSpecial AssistanceShala Ewing, Louise Gillen, and Veronica RobinsonUnder the direction ofArona Butcher, ChiefCountry and Regional Analysis Division

PrefaceThis report is the 67th in a series of annual reports submitted to the U.S. Congress undersection 163(c) of the Trade Act of 1974 (19 U.S.C. 2213(c)) and its predecessor legislation.Section 163(c) states that “the International Trade Commission shall submit to the Congress atleast once a year, a factual report on the operation of the trade agreements program.”This report is one of the principal means by which the U.S. International Trade Commissionprovides Congress with factual information on trade policy and its administration for calendaryear 2015. The trade agreements program includes “all activities consisting of, or related to, theadministration of international agreements which primarily concern trade and which areconcluded pursuant to the authority vested in the President by the Constitution” and bycongressional legislation.U.S. International Trade Commission 1

Table of Contents2

Year in TradeTable of ContentsPreface . 1Abbreviations and Acronyms . 11Executive Summary . 15Key Trade Developments in 2015 . 16Summary of 2015 Trade Agreement Activities . 30Chapter 1 Introduction and Overview of U.S. Trade . 41Scope and Approach of the Report . 41Sources . 41Organization of the Report . 42Overview of the U.S. and Global Economies in 2015 . 42The U.S. Economy in 2015 . 42Global Economic Trends in 2015 . 43Exchange Rate Trends . 46Balance of Payments . 47U.S. Trade in Goods in 2015. 48U.S. Merchandise Trade by Product Category . 49Exports . 49Imports . 50U.S. Merchandise Trade with Leading Partners. 51U.S. Trade with FTA Partners . 52U.S. Imports under Trade Preference Programs. 54U.S. Trade in Services in 2015 . 54U.S. Services Trade by Product Category . 54Exports . 54Imports . 55U.S. Services Trade with Leading Partners. 56Chapter 2 Administration of U.S. Trade Laws and Regulations . 59Import Relief Laws . 59Safeguard Actions . 59Laws against Unfair Trade Practices . 59Section 301 Investigations . 59Section 301 Investigations . 60Special 301 . 61Antidumping and Countervailing Duty Investigations and Reviews. 65Antidumping Duty Investigations . 65Countervailing Duty Investigations . 67U.S. International Trade Commission 3

Table of ContentsReviews of Outstanding Antidumping and Countervailing Duty Orders/SuspensionAgreements . 68Section 704 and 734 Investigations . 69Section 129 Investigation. 70Section 337 Investigations . 70Trade Adjustment Assistance . 73Assistance for Workers . 74Assistance for Firms . 76Tariff Preference Programs . 77Generalized System of Preferences . 78African Growth and Opportunity Act . 81Caribbean Basin Economic Recovery Act . 86Haiti Initiatives . 88Chapter 3 The World Trade Organization . 93Tenth WTO Ministerial Conference . 93General Council . 94Work Programs, Decisions, Waivers, and Reviews . 94Accessions . 95Expansion of the Information Technology Agreement . 95Agreement on Trade Facilitation . 97Selected Plurilateral Agreements . 98Agreement on Trade in Civil Aircraft . 98Agreement on Government Procurement. 99Negotiations on an Environmental Goods Agreement. 99Dispute Settlement Body . 100New Requests for Consultations and New Panels Established . 105Requests for Consultations Filed during 2015 in which the United States was theComplaining Party or Named Respondent . 105Panels Established during 2015 at the Request of the United States . 106Panels Established during 2015 in Which the United States Was the NamedRespondent . 107Panel and Appellate Body Reports Issued and/or Adopted during 2015 That Involvethe United States . 109Reports in Which the United States Was the Complainant. 109Reports in Which the United States Was the Respondent . 112Chapter 4 Selected Regional and Bilateral Trade Activities . 115Organisation for Economic Co-operation and Development . 115Ministerial Council Meeting . 115Trade Committee . 116Asia-Pacific Economic Cooperation . 1174

Year in TradeBackground . 1172015 APEC Developments . 118Free Trade Area of the Asia-Pacific (FTAAP) . 119Advancing Global Value Chain Development and Supply Chain Connectivity . 120Environmental Goods and Services and Green Growth . 121Negotiations on a Trade in Services Agreement . 122Trade and Investment Framework Agreements. 123Developments in TIFA Negotiations during 2015 . 125Developments in Existing TIFAs during 2015 . 126Chapter 5 U.S. Free Trade Agreements. 129U.S. Trade with FTA Partners in 2015 . 129U.S. Total Merchandise Trade with FTA Partners . 129U.S. Imports Entered under FTAs. 131Developments in FTA Negotiations during 2015 . 132Trans-Pacific Partnership (TPP) Agreement . 134TPP Negotiations during 2015 . 135About the Agreement . 136U.S. Trade with TPP Countries . 139Transatlantic Trade and Investment Partnership (TTIP) Agreement . 140Developments in the North American Free Trade Agreement . 143Commission for Labor Cooperation . 144Commission for Environmental Cooperation . 145Dispute Settlement . 147Chapter 11 Dispute Settlement Developments . 147Chapter 19 Dispute Panel Reviews . 147Developments in Other FTAs Already in Force during 2015 . 148CAFTA-DR . 149Dispute Settlement . 150Environment . 151U.S.-Chile FTA . 151Environment . 152U.S.-Colombia TPA . 152U.S.-Jordan FTA . 153U.S.-Korea FTA (KORUS) . 154Environment . 155U.S.-Morocco FTA . 155U.S.-Panama TPA. 156Environment . 156U.S.-Peru TPA . 156Labor . 157Environment . 157U.S. International Trade Commission 5

Table of ContentsChapter 6 U.S. Trade Relations with Major Trading Partners . 159European Union . 160Transatlantic Trade and Investment Partnership (TTIP) . 162Transatlantic Economic Council (TEC). 162Safe Harbor . 164China . 165Intellectual Property Rights Enforcement . 169Information and Communications Technology (ICT) Security Policy . 170ICT Rules for the Banking Sector . 171Medical Devices and Pharmaceuticals Market Access . 172Medical Devices . 173Canada . 174Softwood Lumber Agreement . 177Regulatory Cooperation Council . 177Mexico. 178High Level Economic Dialogue (HLED) . 1802015 Achievements . 180Cross-Border Trucking between the United States and Mexico . 182Japan . 183TPP Negotiations and Dialogue. 185Passenger Motor Vehicle Market Access . 185Agricultural Products . 186Insurance and Express Delivery Markets . 187Republic of Korea . 188U.S.-Korea FTA . 190Trans-Pacific Partnership .

The Year in Trade 2015 Operation of the Trade Agreements Program 67th Report July 2016 Publication Number: 4627 . United States International Trade Commission . Timetable of major TTIP negotiations and leaders’ meetings, 2015 . 140. Table 5.6. Year in Trade . Year in Trade . Year in

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