Trade-Policy Issues and Policy Options for Japan and the United States: Introduction and Overview

8 Pages Posted: 19 May 2006

See all articles by Gary R. Saxonhouse

Gary R. Saxonhouse

University of Michigan at Ann Arbor - Department of Economics

Robert M. Stern

University of Michigan at Ann Arbor - Department of Economics

Abstract

This symposium includes papers that analyse a number of issues that are likely to play a key role in the Doha Development Agenda (DDA) negotiations. These issues are analysed from the perspective of US-Japanese economic relations. In these papers, the economic effects of the WTO negotiating options available to both countries are explored. A final paper examines the important issues raised by the free trade agreements (FTAs) that have or will soon be negotiated by the United States and Japan. Brief summaries of the papers are provided. With all the advantages that have accrued to Japan from the multilateral trading system, it is not surprising that for many years Japan, alone among the world's major economies, stayed aloof from regional trading arrangements. The very past success of the multilateral trading system has made further progress at this level far more complex and has pushed many countries, Japan included, to look to new and deeper regional trading agreements as a more productive path. But it should not be forgotten that while FTAs may be easier to conclude, their benefits are modest compared with what can be gained from a successful Doha Round, and the costs from new distortions imposed on regional trade can be very significant for some of the world's poorer economies. Every good reason remains for Japan to continue to wish to be a pillar of the WTO and of the new Doha Round.

Suggested Citation

Saxonhouse, Gary R. and Stern, Robert M., Trade-Policy Issues and Policy Options for Japan and the United States: Introduction and Overview. The World Economy, Vol. 29, No. 6, pp. 669-676, June 2006, Available at SSRN: https://ssrn.com/abstract=903204 or http://dx.doi.org/10.1111/j.1467-9701.2006.00814.x

Gary R. Saxonhouse (Contact Author)

University of Michigan at Ann Arbor - Department of Economics ( email )

611 Tappan Street
Ann Arbor, MI 48109-1220
United States

Robert M. Stern

University of Michigan at Ann Arbor - Department of Economics ( email )

611 Tappan Street
Ann Arbor, MI 48109-1220
United States
313-764-2373 (Phone)
313-763-9181 (Fax)

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