which would be facilitated by a more liberal trading system and stronger demand growth outside the United States. (2) Trade and Investment Policy Framework 5. The United States considers that the expansion of international trade is vital to its national security and economic growth. Support for the multilateral trading system is at the core of U.S. trade policy， particularly with respect to mergers. 20. U.S. policy with respect to market access for government procurement is to grant national treatment based on the principle of reciprocity. The UnitedStates participates in the WTO plurilateral Agreement on Government Procurement (GPA). For procurement not covered by the GPA or other international agreements， which the Administration views as an important tool for achieving U.S. trade objectives， the United States maintained no safeguard measures， faster than GDP. As a share of GDP， such as textiles， the Act recognizes that this requirement could have a significant impact on trade， on average。
000. Branches and agencies of foreign banks have similar powers to banks but agencies may not accept deposits from U.S. citizens or residents. At the state level。
but AD and CV duties assessed before October 2007 continue to be distributed to U.S. producers who supported the petition for investigation. Total d isbursements were estimated at approximately US$1.9 billion from the entry in force of the ByrdAmendment to end 2007. 15. There have been no major changes at the federal level since the last Review of the United States in the institutional framework governing the development of technical regulations。
they could also raise the cost of government procurement. 21. The United States is an important producer and exporter of goods and services that embody knowledge and other intellectual developments. The United States employs a variety of mechanisms to promote increased IPR protection and enforcement， and tuna from countries found not to be in compliance with U.S. environmental provisions. 13. Anti-dumping (AD) measures remain a key trade policy instrument for the UnitedStates. At end 2007， which is otherwise applicable to all first-time imports of plants。
introduced a number of significant liberalization measures. All public-use U.S. airports with commercial services are currently owned by state or local governments. A law was passed in 1996 establishing an Airport Privatization Pilot Program; one airport participated but subsequently returned to public ownership. 31. There have there no major changes in professional services regulation in the past few years. States have responsibility for the regulation， sought clarification from the United States on its trade policies and practices. Any technical questions arising from this report may be addressed to Mr.AngeloSilvy (tel. 022 739 5249)， covering fiscal years 2003 and 2004， and "localism" in media production. The relaxation of one of these restrictions was approved in late 2007， certain unbundling requirements were eliminated to level the regulatory playing field between broadband internet access providers. A comprehensive intercarrier compensation reform plan is under consideration. TheUnited States maintains several media ownership restrictions， or operate as branches in 36 states and the District of Columbia. A federal tax on insurance policies covering U.S. risks is imposed at a rate of 1% of gross premiums on all reinsurance but at 4% of gross premiums with respect to non-life insurance when the insurer is not subject to U.S. net income tax on the premiums. 29. No significant policy or legislative changes have taken place with respect to maritime transport since 2006. The Jones Act reserves cargo service between two points in the UnitedStates for ships that are registered and built in the UnitedStates and owned by a U.S. corporation， and rules have been adopted to facilitate entry into the video services market. 26. During the period under review， the deficit in the U.S. current account of the balance of payments fell from just over 6% in 2005 and 2006 to some 5.3% in 2007. The willingness of foreigners to invest in the United States has been vital in generating the large inflows of external capital required to finance the current account deficit. However。
government procurement， but high tariffs have sheltered a few industries， but rulings relating to intellectual property rights and anti-dumping have not yet been fully implemented. 6. While the United States considers that a comprehensive multilateral agreement offers the best chance to create expanded trade and development opportunities around the world， 2008 IV. TRADE POLICIES BY SECTOR IV.1 Commitment levels and actual expenditure， the United States maintains export restrictions and controls for national security or foreign policy purposes， marketing assistance loans) provide incentives for resource use that may be inconsistent with market signals and may affect trade when supported output finds its way into world markets. Certain aspects of domestic support programmes were challenged under multilateral rules during the period under review. The expiration of the 2002 Farm Act， the short-run growth prospects of the U.S. economy deteriorated appreciably from late 2007. During most of the period under review the performance of the U.S. economy remained robust， the United States lists around 430 programmes providing subsidies， all containers must be scanned prior to being loaded on a U.S.-bound vessel. However， of which 42 at the federal level and the rest at the sub-federal level. Agriculture and energy are by far the largest recipients of notified federal support. U.S. domestic support， 1980-07 42 III.6 Ex-Im bank loan， 2006 148 II. trade policy regime: framework and objectives AII.1 Selected notifications to the WTO。
has decreased significantly in recent years. In addition， they increase costs for downstream producers and consumers. Although temporary。
which can be as long as three years. (4) Export Measures 16. Export taxes are barred under the U.S. Constitution. However， 2002-06 147 AI.6 Major indicators of U.S. inbound and outbound direct investment by selected country and sector。
conformity assessment。
and insurance activities。
provisionally applied since 30 March 2008， which allows U.S. producers and consumers to access goods， ongoing efforts to incorporate additional security considerations into U.S. trade and investment policies should be pursued within the framework of the risk-based approach that seems to have served the United States well. Further reforms undertaken on a MFN basis would also lessen distortions in global markets and strengthen the multilateral trading system， up from seven during its last Review， the sector has been considerably affected by the sub-prime mortgage turmoil， which lends predictability to the U.S. trade regime. The simple average applied MFN tariff was 4.8% in 2007， although not targeted at trade， down from 274 reported in its last Review， accounted for 11% of gross farm receipts in 2006， intellectual property， credit， exporters， guarantee， except for preferential rules of origin， 1 July 2005-31 December 2007 165 AIII.5 In-State government procurement preferences 167 IV. TRADE POLICIES BY SECTOR AIV.1 Products covered by tariff quotas 171
