Promoting U.S. Growth, Employment, and Strengthening the Middle Class
U.S. participation in OECD trade bodies contributes to maintaining open global markets for U.S. goods and services. The OECD serves a critical function in helping members advance their shared agenda of ensuring a strong and dynamic global trading system that can generate sustained economic growth and overcome the challenges of the global economic crisis.
The United States benefits through its participation in the OECD Trade Committee and its subsidiary bodies:
- Working Party of the Trade Committee: Carries forward the work of the Trade Committee, between the latter's sessions, looking in particular at the more technical aspects of trade issues such as cooperation on regulatory framework, income wage inequality, and global value chains, among other issues.
- Joint Working Party on Agriculture and Trade: Monitors and tracks developments in agriculture and their impact on trade.
- Joint Working Party on Trade and Environment: Examines issues such as transport, climate change, fuel subsidies, and trade in environmentally sensitive products.
OECD efforts advance our understanding of how trade openness can bolster economies in member countries as well as in the major emerging and other non-member countries, including through economic modelling that illustrates the effects of trade liberalization on GDP, growth and employment:
- Services Trade Restrictiveness Index (STRI): Launched in 2014, the STRI analyses how various barrier to trade in the services sector affect the economic growth of countries. Initial analysis of the STRI is improving our understanding of how barriers to trade in the services sector may negatively affect exports more than imports, hampering the competitiveness of domestic firms. Work has been completed on a number of pilot sectors including telecommunications, professional services, computer services and construction services, and the STRI coverage will soon be expanded to additional sectors and countries.
- Trade in Value-Added (TiVA): The joint OECD – WTO TiVA database analyses the input that countries contributed in the production of goods and services by considering the value added by each country. TiVA indicators are designed to better inform policy makers by providing new insights into the commercial relations between nations.
- OECD-FAO Agricultural Outlook: This annual publication on agricultural market trends and prospects for production, consumption, trade, stocks, and prices of key agricultural commodities – biofuels, cereals, dairy, fish, oilseeds, meat and sugar.