International Trade and Finance: Overview and Issues for the 115th Congress

"The U.S. Constitution grants authority to Congress to regulate commerce with foreign nations. Congress exercises this authority in numerous ways, including through oversight of trade policy and consideration of legislation to implement trade agreements and authorize trade programs. Policy issues cover areas such as U.S. trade negotiations; U.S. trade and economic relations with specific regions and countries; international institutions focused on trade; tariff and nontariff barriers; worker dislocation due to trade liberalization; enforcement of trade laws; import and export policies; international investment; economic sanctions; and other trade-related functions of the federal government. Congress also has authority over U.S. financial commitments to international financial institutions and oversight responsibilities for trade- and finance-related agencies of the U.S. government. Major Actions in the 114th Congress.

The 114th Congress passed legislation that:
 renewed Trade Promotion Authority (TPA) through July 1, 2021 (subject to passage of an extension disapproval resolution in 2018), allowing implementing legislation for trade agreements to be considered under expedited legislative procedures, provided that certain statutory requirements are met;
 reauthorized Trade Adjustment Assistance (TAA), the Export-Import Bank (ExIm Bank), and several U.S. trade preference programs on a multi-year basis;
 reauthorized the U.S. Customs and Border Protection (CBP); and
 authorized U.S. participation in quota  and governance reforms at the International Monetary Fund (IMF)..."
International trade

BEA’s New Data Tool Provides Fast Access to Trade and Investment Stats for Countries

"A new data tool--International Trade and Investment Country Facts Application--on the Bureau of Economic Analysis website gives users a snapshot of statistics on trade and investment between the United States and another country by simply clicking on a world map.

These fast facts at your fingertips can include:

• Total exports, imports and trade balance between the United States and the country you select.
• The top five categories of goods and services the United States buys from and sells to that country.
• Country level data on U.S. direct investment abroad and foreign direct investment in the United States and on the activities of multinational enterprises such as employment and sales..."Trade data

International Trade: Rules of Origi

"Determining the country of origin of a product is important for properly assessing tariffs,
enforcing trade remedies (such as antidumping and countervailing duties) or quantitative
restrictions (tariff quotas), and statistical purposes. Other commercial trade policies are also
linked with origin determinations, such as country of origin labeling and government
procurement regulations.

Rules of origin (ROO) can be very simple, noncontroversial tools of international trade as long as
all of the parts of a product are manufactured and assembled primarily in one country. However,
when a finished product’s component parts originate in many countries—as is often the case in
today’s global trading environment—determining origin can be a very complex, sometimes
subjective, and time-consuming process..."

A Basic Guide to Exporting, 10th edition.
U.S. Department of Commerce, International Trade Administration, 2008
658.850973 B292b
"Looking for a comprehensive overview of how to export? For more than 70 years, A Basic Guide to Exporting has been the resource that businesses have turned to for answers to their questions about how to establish and grow overseas markets for their products and services. Whether your firm is new to exporting or in need of a refresher on the latest ideas and techniques, this comprehensive guide, now completely revised and updated, provides the nuts-and-bolts information you will need to meet the challenges of the world economy by examining:

How to identify markets for your company’s products

How to finance your export transactions

The best methods of handling orders and shipments

Sources of free or low-cost export counseling"

U.S. International Transactions: Second Quarter 2008 Current Account
"The U.S. current-account deficit--the combined balances on trade in
goods and services, income, and net unilateral current transfers--increased to
$183.1 billion (preliminary) in the second quarter of 2008 from $175.6 billion
(revised) in the first quarter. The increase was more than accounted for by a
decrease in the surplus on income and an increase in the deficit on goods. In
contrast, the surplus on services increased, and net unilateral current
transfers to foreigners decreased."

The Year in Trade 2007
"The ITC's The Year in Trade is one of the government's most comprehensive reports of U.S. trade-related activities, covering major multilateral, regional, and bilateral developments.

The publication provides a practical review of U.S. international trade laws and actions in 2007, a summary of the operation of the World Trade Organization (WTO), and an overview of U.S. free trade agreements and negotiations and of U.S. bilateral trade relations with major trading partners..."

Fact Sheet: Expanding Economic Opportunities Through Free and Fair Trade
"Today, President Bush highlighted the importance of trade in promoting prosperity and freedom in the United States and around the world. At the White House, the President discussed a display of products from businesses that would benefit from trade liberalization, and urged Congress to approve our free trade agreements with Colombia, Panama, and South Korea. The companies represented at the White House have created jobs, increased prosperity, and proven that they can compete in the global market. In order for these and other U.S. businesses to continue growing, the government needs to keep working to reduce foreign trade barriers, enabling companies to compete on a level playing field."

2007 Sets All Time International Tourism Record For U.S.
"U.S. Commerce Secretary Carlos M. Gutierrez today announced that 2007 set an all time record for international tourism, with visitors pumping $122 billion into the U.S. economy from over 56 million international visitors supporting 8.5 million American jobs. Last year exceeded all previous records in both international spending and visitation to the United States. Over half of international visitors came to America from NAFTA alone."