Why It Matters Trade Agreements: Deal or No Deal
15 snips
May 21, 2025 Inu Manak, a trade policy fellow at the Council on Foreign Relations, dives into the tumultuous world of U.S. trade agreements. She discusses the historic shift in trade authority from Congress to the presidency and critiques the risks of abrupt policy changes. The conversation navigates the complexities and conflicts arising from recent tariffs, using the Ford F-150 as a compelling case study. Inu also highlights the evolving landscape of international trade relations and the urgent need for domestic policies that support American workers amid these changes.
AI Snips
Chapters
Transcript
Episode notes
Purpose of Trade Agreements
- Trade agreements regulate trade and investment relations between countries through rules covering tariffs, standards, and intellectual property.
- They create predictability and stability, helping economies benefit from lower costs and greater consumer choice.
Types of Trade Agreements
- Trade agreements come in multilateral, plurilateral, and bilateral forms affecting varying numbers of countries.
- They cover more than trade, including investment, intellectual property, labor, and environmental regulations.
Origins of Presidential Trade Authority
- Congress delegated much tariff authority to the president after the Smoot-Hawley tariffs worsened the Great Depression.
- The president's trade powers were expanded during the Cold War to address economic issues tied to national security.