Page:United States Statutes at Large Volume 102 Part 2.djvu/116

 102 STAT. 1120

PUBLIC LAW 100-418—AUG. 23, 1988 (1) in the last 10 years there has arisen a new global economy in which trade, technological development, investment, and services form an integrated system; and in this system these activities afTect each other and the health of the United States economy; (2) the United States is confronted with a fundamental disequilibrium in its trade and current account balances and a rapid increase in its net external debt; (3) such disequilibrium and increase are a result of numerous factors, including— (A) disparities between the macroeconomic policies of the major trading nations, (B) the large United States budget deficit, (C) instabilities and structural defects in the world monetary system, (D) the growth of debt throughout the developing world, (E) structural defects in the world trading system and inadequate enforcement of trade agreement obligations, (F) governmental distortions and barriers, (G) serious shortcomings in United States trade pohcy, and (H) inadequate growth in the productivity and competitiveness of United States firms and industries relative to their overseas competition; (4) it is essential, and should be the highest priority of the United States Government, to pursue a broad array of domestic and international policies— (A) to prevent future declines in the United States economy and standards of living, (B) to ensure future stability in external trade of the United States, and (C) to guarantee the continued vitality of the technological, industrial, and agricultural base of the United States; (5) the President should be authorized and encouraged to negotiate trade agreements and related investment, financial, intellectual property, and services agreements that meet the standards set forth in this title; and (6) while the United States is not in a position to dictate economic policy to the rest of the world, the United States is in a position to lead the world and it is in the national interest for the United States to do so. (b) PURPOSES.—The purposes of this title are to— (1) authorize the negotiation of reciprocal trade agreements; (2) strengthen United States trade laws; (3) improve the development and management of United States trade strat^y; and (4) through these actions, improve standards of living in the world.

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