Global Trade Juggernaut
Trade and Forfaiting Review
In this article, Welles Orr discusses the global trade landscape in 2015 and the Obama administration's commitment to advancing multilateral trade deals. "Washington is eager to ramp up the pace of dialogue between governments on critical issues following the relaunch of the high-level US-India Trade Policy Forum in November 2014," Orr said. "For an administration that took a 'time out' on trade when it came into office six years ago ... the White House trade office has never been busier." The major pillars of the administration's trade agenda over the next two years include completing negotiations under the Trans-Pacific Partnership (TPP), the US-EU Transatlantic Trade and Investment Partnerships (TTIP), the Doha Development Agenda, the Information Technology Agreement (ITA), the Trade in Services Agreement (TISA) and the reauthorization of the African Growth and Opportunity Act (AGOA). Regarding prospects for the next two years, Orr says: "Expect to see a bipartisan TPA bill passed within the next couple of months, showcasing the fact that the new Republican Congress is not all about shutting down Obama's final two-year agenda." With prospective good will stemming from breakthrough deals, "2015 could be a hallmark year for advancing global trade," Orr said.