United States Trade Developments, 2010-2011

United States Trade Developments, 2010-2011 provides an overview of the most relevant developments in United States trade relations with Latin America and the Caribbean and of the measures that inhibit the free flow of goods among countries in the Western hemisphere.

Global trade slowed down in 2011, The World Trade Organization (WTO) projects real export growth to reach 5.8% in 2011 as compared to a 14.5% increase in 2010. This slowdown is attributed to, among other factors, the catastrophes that hit Japan in March, the rising prices for food and other primary products, the unrest in major oil exporting countries, and, more recently, to the debt and financial crisis in Europe and the uncertain outlook of the U.S. economy.

The United States’ trade policy in 2011 was marked by the ratification of the three pending free trade agreements with South Korea, Panama and Colombia negotiated four years ago. The trans-Pacific Partnership Agreement (TPP) negotiations have continued this year and the U.S. is set on finishing the agreement by 2012.