The Future of U.S. Trade Policy: An Analysis of Issues and Options for the 111th Congress
"U.S. trade policy is at a cross-roads as the Obama Administration and the 111th Congress face a
range of policy issues and challenges. The future direction of trade policy and how the issues will be addressed are unclear at this time and the subject of sharp debate within Congress, the
Administration, and the trade policy community at large. While a number of issues are related to
trade policy, the fundamental question that is the subject of this debate is which trade policy, if any, will maximize the benefits of trade and boost U.S. living standards...

The debate on trade is framed by three groups of views. One group, who might be called “trade
liberalizers,” assert that on a net basis the benefits to the United States of trade liberalization are greater than the costs and, therefore, should be encouraged through trade barrier reductions. A second group—“fair traders”—acknowledge the benefits of trade liberalization but assert that U.S. firms and workers are often forced to compete under unfair conditions. They support trade agreements, but only if the agreements provide for a “level playing field.” A third group—“trade skeptics”—tends to argue that the costs of trade liberalization outweigh the benefits for the United States, and therefore, reject unrestricted trade liberalization. Where policymakers fit on this continuum of views could help to determine how they decide to address the outstanding and emerging trade issues before Congress.."