DEC Supported U.S. Government Initiatives
The U.S. government, through the U.S. Department of Commerce, the U.S. Department of State, and the Office of U.S. Trade Representative works to expand opportunities for U.S. companies, protect U.S. companies from unfair trade practices, and develop trade agreements that provide better access to foreign markets. From the USMCA, China Phase One, to Prosper Africa, the U.S. government is working to help U.S. companies succeed.
The United States, Mexico, and Canada updated NAFTA to create the new USMCA. USMCA is mutually beneficial for North American workers, farmers, ranchers, and businesses. The new agreement, which went into effect on July 1, 2020, will create a more balanced environment for trade, will support high-paying jobs for Americans, and will grow the North American economy
On January 15, 2020, the United States and China signed an historic and enforceable agreement on a Phase One trade deal that requires structural reforms and other changes to China’s economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange.
The United States is implementing a whole-of-government strategy to champion the values that have served the Indo-Pacific so well: (1) respect for sovereignty and independence of all nations; (2) peaceful resolution of disputes; (3) free, fair, and reciprocal trade based on open investment, transparent agreements, and connectivity; and (4) adherence to international law, including freedom of navigation and overflight
The W-GDP Initiative aims to enhance opportunities for women to participate meaningfully in the economy and advance both prosperity and national security. W-GDP focuses on three pillars: Women Prospering in the Workforce, Women Succeeding as Entrepreneurs, and Women Enabled in the Economy.
Prosper Africa is a U.S. Government Initiative that unlocks opportunities to do business in Africa — benefiting companies, investors, and workers both in Africa and the United States.
Foreign trade barriers are broadly defined as a foreign government policy, practice or procedure that unfairly or unnecessarily restricts U.S. exports. In U.S. trade agreements, foreign governments agree to eliminate these trade barriers and the International Trade Administration works to ensure countries live up to their agreement obligations