Treasury, U: Annual Trade Projection Report to Congress

Excerpt from Annual Trade Projection Report to Congress: March, 1990

The report is to include a review and analysis of key economic developments in countries and groups of countries that are major trading partners of the United States, projections for developments in various macroeconomic variables in the reporting year and the following year, conclusions and recommendations for policy changes to improve the outlook, and the impact on u.s. Trade of market barriers and other unfair practices.

The legislation specifies that the report is to be prepared jointly by the Treasury Department and the Office of the United States Trade Representative, in consultation with the Chairman of the Board of Governors of the Federal Reserve System. The Report is to be submitted on March 1 of each year to the Senate Finance Committee and the Ways and Means Committee of the House of Representatives.

Part II of this report reviews recent macroeconomic developments in countries or groups of countries that are major u.s. Trading partners, as well as key recent developments in the u.s. Economy. Part III presents projections for key macroeconomic developments in 1990 and 1991 in the same countries and country groups. The two main sections are organized as follows: Section 1 discusses economic growth, fiscal trends and current and trade account developments in the industrial countries: Section 2 reviews key developments elsewhere in the world economy, including the non-opec member Less Developed Countries, the Newly Industrializing Asian Economies, and the opec countries. Part IV reviews policy issues raised by these projections, and Part V discusses the impact on u.s. Trade of market barriers and other unfair practices. Parts I IV were prepared by the Treasury Department; Part V was prepared by the Office of the Trade Representative.

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