Search

Begin New Search Author Gary Clyde Hufbauer

31. Buy American: Bad for Jobs, Worse for Reputation

Author:
Gary Clyde Hufbauer and Jeffrey J. Schott
Publication Date:
02-2009
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
On January 28, 2009, the US House of Representatives passed its economic stimulus plan, the American Recovery and Reinvestment Act of 2009. Out of the bill's 700 text pages, a small half-page section attracted enormous media attention: the section requiring that all public projects funded by the stimulus plan must use only iron and steel produced in the United States (box 1). Another provision, which drew less attention, extends the so-called Berry Amendment (an old Buy American provision) to uniforms purchased by the Department of Homeland Security.
Topic:
Economics, Globalization, Government, Industrial Policy, International Political Economy, International Trade and Finance, and International Affairs
Political Geography:
United States

32. The World Trade Organization and Climate Change: Challenges and Options

Author:
Gary Clyde Hufbauer and Jisun Kim
Publication Date:
09-2009
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Trade and environment intersect in many ways. Aside from the broad debate as to whether economic growth and trade adversely affect the environment, there are linkages between existing rules of the World Trade Organization (WTO) and rules established in various multilateral environmental agreements. Controlling greenhouse gas emissions promises to be a top priority for both national and international agendas, and special attention must be given to the relationship between the WTO and the emerging international regime on climate change. This working paper examines the nexus of the WTO and climate change and discusses challenges and options.
Topic:
Climate Change, Environment, International Organization, and International Trade and Finance

33. What's on the Table? The Doha Round as of August 2009

Author:
Matthew Adler, Gary Clyde Hufbauer, Jeffrey J. Schott, and Claire Brunel
Publication Date:
08-2009
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
The Doha Round is the longest-running trade liberalization negotiation in the postwar era. Despite its longevity, the end is not yet in sight as parties disagree on the depth of liberalization necessary in agriculture and nonagricultural market access (NAMA). This rift is prolonging the Round's completion and hindering the discussion of other important issues on the negotiating agenda, particularly services. To shed light on the debate concerning the benefits from Doha, this paper first estimates, using three metrics, the potential gains from liberalization in agriculture and NAMA resulting from the specific “modalities” set forth in papers drafted by the chairs of the Doha negotiating groups. Next, the study estimates the benefits that could result from sector initiatives in chemicals, electronic/electrical goods, and environmental goods that go beyond the tariff cuts outlined in the negotiating modalities. Finally, prospective gains from liberalization of services barriers and improvements in trade facilitation are also analyzed. Overall, we estimate that the boost to global exports from concluding the Doha Round could range between $180 billion and $520 billion annually. Likewise, the potential GDP gains are significant, between $300 billion and $700 billion annually, and well balanced between developed and developing countries.
Topic:
Agriculture, Economics, and International Trade and Finance

34. Policy Liberalization and FDI Growth, 1982 to 2006

Author:
Matthew Adler and Gary Clyde Hufbauer
Publication Date:
08-2008
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Over the last three decades the global economy has expanded in a remarkable fashion. While nominal world GDP has increased four times, world bilateral trade flows have grown more than six-fold, and the stock of foreign direct investment (FDI) has grown by roughly 20 times since 1980. The sources of global trade and investment growth are well known—general economic expansion, policy liberalization, and better communications and technology—but the impact of each source is unclear. In this paper we attempt to uncover the contribution of policy liberalization to the rising ratios of US inward and outward FDI stocks to GDP over the last three decades.
Topic:
Economics, Globalization, International Political Economy, International Trade and Finance, Markets, and Political Economy
Political Geography:
United States

35. The Doha Round after Hong Kong

Author:
Gary Clyde Hufbauer and Jeffrey J. Schott
Publication Date:
02-2006
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Trade ministers from member countries of the World Trade Organization (WTO) convened in Hong Kong in December 2005 to jump-start the flagging Doha Round of multilateral trade negotiations. The Hong Kong ministerial was not a complete bust. But ministers accomplished only the minimum necessary to keep the Doha Round moving forward—toward an undetermined and probably distant conclusion.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
Asia

36. Prospects for Regional Free Trade in Asia

Author:
Gary Clyde Hufbauer and Yee Wong
Publication Date:
10-2005
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Frustrated with lackluster momentum in the WTO Doha Round and the Asia Pacific Economic Cooperation (APEC) forum, and mindful of free trade agreement (FTA) networks centered on the United States and Europe, Asian countries have joined the FTA game. By 2005, Asian countries (excluding China) had ratified 14 bilateral and regional FTAs and had negotiated but not implemented another seven. Asian nations are also actively negotiating some 23 bilateral and regional FTAs, many with non-Asian partners, including Australia, Canada, Chile, the European Union, India, and Qatar. China has been particularly active since 2000. It has completed three bilateral FTAs—Thailand in 2003 and Hong Kong and Macao in 2004—and is initiating another 17 bilateral and regional FTAs. However, a regional Asian economic bloc led by China seems distant, even though China accounts for about 30 percent of regional GDP. As in Europe and the Western Hemisphere, many Asian countries are pursuing FTAs with countries outside the region. On present evidence, the FTA process embraced with some enthusiasm in Asia, Europe, and the Western Hemisphere more closely resembles fingers reaching idiosycratically around the globe rather than politico-economic blocs centered respectively on Beijing, Brussels, and Washington.
Topic:
Economics, International Trade and Finance, and Regional Cooperation
Political Geography:
United States, China, Europe, Washington, Canada, India, Beijing, Asia, Australia, Qatar, Chile, Hong Kong, Brussels, and Macao

37. The Payoff from Globalization

Author:
Gary Clyde Hufbauer and Paul L. E. Grieco
Publication Date:
05-2005
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
The battle over the Central American Free Trade Agreement (CAFTA) promises a reprise of familiar themes. While contemporary commentators may connect their arguments to NAFTA, in fact the "modern" debate over trade barriers can be traced back to British Corn Laws. Enacted to protect land barons, the Corn Laws were finally repealed in 1846 to make way for what Martin Wolf has called the "first age of globalization."
Topic:
International Relations, Economics, Globalization, and International Trade and Finance
Political Geography:
Central America

38. China Bashing 2004

Author:
Gary Clyde Hufbauer and Yee Wong
Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
On April 26, 2004, Senator John Kerry released his six-point trade pro - gram, “Trade Enforcement: Asleep at the Wheel,” and conspicuously targeted China for violating worker rights, dumping, and supporting “illegal currency manipulation” (Kerry 2004). Five days earlier, senior Bush administration officials met with Chinese Vice Premier Wu Yi to settle a few trade disputes (e.g., WiFi) but did not resolve the most contentious ones (exchange rates, semiconductors, and labor rights).
Topic:
Development, Globalization, and International Trade and Finance
Political Geography:
China and Asia

39. Senator Kerry on Corporate Tax Reform: Right Diagnosis, Wrong Prescription

Author:
Gary Clyde Hufbauer and Paul Grieco
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Senator John Kerry has proposed a major overhaul in corporate taxation, with the goal of persuading multinational companies (MNCs) to employ more workers at home and fewer abroad. Kerry has correctly emphasized that domestic production is often taxed at a higher rate than production abroad, but his prescriptions will not boost US jobs.
Topic:
Development, Globalization, and International Trade and Finance
Political Geography:
United States, South America, Central America, Caribbean, and North America

40. North American Agriculture under NAFTA

Author:
Gary Clyde Hufbauer, Jeffrey J. Schott, and Yee Wong
Publication Date:
12-2004
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
The NAFTA agreement on agricultural trade consists of three bilateral agreements—between the United States and Mexico, the United States and Cana da, and Canada and Mexico. The US-Canada agreement largely carried into NAFTA the tariff and nontariff barrier rules that had been adopted in the Canada-US Free Trade Agreement (CUSFTA). Under CUSFTA, most agriculture tariffs between the United States and Canada were to be phased out by January 1998, and this schedule was adopted by NAFTA for US-Canada agricultural trade. However, Canada was allowed to maintain permanent tariff-rate-quota (TRQ) restrictions on imports of dairy, poultry, and eggs; and the United States was allowed to maintain TRQs on imports of sugar, dairy products, and peanuts from Canada (see table 1). Although a tariff snapback provision remains in effect until 2008, it has rarely been used by Canada. Agricultural trade between Mexico and Canada was limited by virtually the same restrictions. As might be expected, some agriculture trade associations favored NAFTA and others opposed. Box 1 summarizes the lineup of important trade associations.
Topic:
Agriculture, Economics, and International Trade and Finance
Political Geography:
United States, Canada, North America, and Mexico