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An Outlook for the Obama Administration's Trade Policy: Focusing on the Concept of Fair Trade

An Outlook for the Obama Administration's Trade Policy: Focusing on the Concept of Fair Trade

An Outlook for the Obama Administration's Trade Policy: Focusing on the Concept of Fair Trade

미국

An Outlook for the Obama Administration’s Trade 
Policy: Focusing on the Concept of Fair Trade
 
June5, 2009 
KANG Seon Jou 
Professor 
Dept. of Int’l Economy & Trade Studies 
President Obama’s trade 
policy focuses on both 
free trade and fair trade. 
During his presidential 
campaign and in his 
inaugural speech, he defined “free 
and fair trade” as one that not only 
creates wealth but also provides 
equitable rewards to labor through 
protection of human rights and the 
environment. The concept of fair 
trade developed by President Obama 
is distinctive in that fairness in trade 
is determined by whether or not it 
ensures protection of human rights, 
labor, and the environment under 
international agreements. 
This is supported by the fact that 
the Democratic Party, which has 
taken control of the US Congress, 
supports resumption of WTO/DDA 
negotiations, that President Obama 
will administer the “economic stimulus 
package,” which includes the “Buy 
American” clause, in a way that does 
not violate WTO rules, and that he 
expressed his intention to reduce 
agricultural subsidies (the “Farm 
Bill”) currently worth $290 billion.

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