The National Ambient Air Quality Standard (NAAQS) for ground-level ozone is an outdoor air regulation established by the U.S. Environmental Protection Agency (EPA) under the Clean Air Act. Ground-level ozone is a gas that occurs both naturally and forms due to chemical reactions between nitrogen oxides and volatile organic compounds, which are emitted from industrial facilities, power plants, vehicle exhaust, and chemical solvents.
Many European citizens are concerned about the concept of investor–state dispute settlement, which is frequently portrayed as giving companies the right to sue governments for lost profits in secret international courts. Those who favour US–EU collaboration, including through the ambitious Transatlantic Trade and Investment Partnership agreement, can assuage these concerns by explaining how investment treaties strengthen international law. Governments created investor–state dispute settlement for their own purposes, anchoring it deeply in the UN system through numerous multilateral conventions—the most recent of which was adopted by the UN General Assembly in December 2014. By straying from this UN-based approach in its own response to public concerns, the European Commission might unfortunately weaken investor protection and the enforcement of international law. Its proposals on such issues as the right to regulate and the ‘investment court system’ should be reviewed in light of their impact on 50 years of international law.
The World Trade Organization (WTO) will celebrate its 21st anniversary on New Year’s Day. So when top trade officials from around the globe gather in Nairobi on December 15-18 for their biennial Ministerial Conference, they may want to ask: What do the WTO’s Member States want it to be when it grows up?
In fairness, the WTO deserves better than this undignified question. It is perhaps the most successful multilateral organization: Its rules inform national policy at home and abroad, and its dispute settlement system commands global respect.
What is the record of America’s free-trade agreements (FTAs)? This question is the subject of a hearing today at the U.S. International Trade Commission (USITC). The hearing kicks off an investigation into the economic impact of these agreements mandated by the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, which renewed Trade Promotion Authority.
In recent years, the evidence has mounted that North America’s energy resources have been significantly underestimated. Most eye-opening is the evidence that the United States is awash in natural gas. Read full brief here.
The U.S.-Panama Trade Promotion Agreement entered into force on October, 2012. As Washington considers legislation to renew Trade Promotion Authority (TPA)—an essential tool to clinch new trade agreements—the three-year track record of this landmark agreement already demonstrates its impressive benefits.
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Above the Fold is your window on policy, with analysis, commentary and real stories about the intersection of government and business.