AP Government US Foreign Trade

<big><big>Foreign Trade in the United States of America</big></big>
Introduction
Foreign trade consists of the imports and exports of the United States of America. The United States spent 2.3 trillion dollars on imports in 2015, and in the same year, exported 1.5 trillion dollars of goods.
The United States top exports
Machines, electric equipment, aircrafts, vehicles, oil, medical equipment, and plastics.
The United States top imports
Electronics, machines, vehicles, oil, pharmaceuticals, medical/technical equipment, and furniture.
Brief History
Foreign Trade in the United States started primarily during WWII due to the increase in globalization. Around this time, advancements in technology made it easier for capital to be moved across countries. Since 1970, foreign imports and exports in the United States have increased by 2000%. This increase in trade between nations has made each individual nations economy extremely dependent on other countries' economies.
Policymaking Actions
Following WWII, the Emergency Tariff of 1921 act, and the Fordney-McCumber Tariff of 1922 were passed. These acts helped accelerate US trade on a global scale and were meant to promote trade while protecting US businesses. After the Great Depression the Bretton Woods currency agreement was passed trying to establish rules for commerce between Western European and American countries. In 1971 President Nixon ended this agreement leaving the United States with a “floating fiat currency.” As recent as 2006, growing debt has been a large concern in foreign trade leading a to many policy making actions related to debt.
Process of Policymaking
Each branch of government has its own unique role in policymaking. The president is the key leader in foreign policy which includes foreign trade. The senate has the role of advising the president in negotiating agreements. Congress also controls the national budget. All trade budgets flow through congress and the president can only spend money that congress allots him. The judicial branch has the power to declare foreign trade policy laws unconstitutional if they see fit.
Role of Nongovernment Groups
Non governmental groups are not part of a government or a business for profit. They are usually ran by ordinary citizens but funded by the government or businesses. They play a large role in foreign trade policy by influencing the government in favor of policies they need. Because these groups often contain many citizens, they can hold a lot of weight in government proceedings. An example of a nongovernmental group that influences foreign trade policy is ActionAid International. They campaign and lobby to change trade rules and cut agricultural subsidies.
Impact of Policy Making On Public
Tariffs play a large role in foreign trade policy. Taxes like these can greatly influence local business owners because they can give an advantage to foreign companies products. When the government enacts tariffs, they must be very careful because even small changes can have large influences at the local level.
Status of Policy Decisions
Some of the current Policies in action right now are NAFTA (North American Free Trade Agreement), which promotes free trade between the countries of the United States, Mexico and Canada. In addition to this the United states has entered into free trade agreements with 17 other countries. These free trade agreements encourage commerce across national borders and boost the economies of each participating nation. President Obama advanced foreign trade through the 2010 National Export Initiative. There are currently two trade deals that are pending named the TPP and TTIP. deals focusing on so-called “next-generation” trade issues such as agriculture, services, intellectual property, and “behind-the-border” issues of domestic liberalization.
Analysis of Current Policy
Current United States Foreign Trade Policy has helped many economies around the world including our own. Right now our country is 19 Trillion Dollars in debt so we need to be doing something different with the way we run our economics. However the amount of trade we do with other countries is positive and has helped many economies around the world.

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