Assistant Secretary of the Treasury for International Economic Affairs

Overview

The Assistant Secretary of the Treasury for International Economic Affairs is a senior official within the United States Department of the Treasury, responsible for overseeing and coordinating the country’s economic foreign policy. The position is established by statute (30 U.S.C. § 1012) and reports directly to the Secretary of the Treasury.

History

The Assistant Secretary of the Treasury for International Economic Affairs was created in 1973, as part of the United States-Canada Free Trade Agreement Implementation Act. Initially, the position focused on promoting Free Trade Agreements and economic cooperation between the US and Canada.

In 1999, the assistant secretary was reorganized to become a senior official within the Bureau of International Labor Relations (BILR), which later became part of the Bureau of Economic Analysis (BEA). This change aimed to enhance the department’s role in promoting Labor Rights and international economic cooperation.

Responsibilities

The Assistant Secretary for International Economic Affairs is responsible for:

  1. International Economic Policy: Developing and implementing US economic foreign policy, focusing on trade agreements, Exchange Rate Management, and other international economic issues.
  2. Coordinating with Other Agencies: Working closely with various government agencies, such as the Federal Reserve, the Office of the U.S. Trade Representative (USTR), and the International Monetary Fund (IMF).
  3. Promoting Free Trade Agreements: Supporting the negotiation and implementation of Free Trade Agreements between the US and other countries.
  4. Economic Development Assistance: Providing financial and technical assistance to developing countries, with a focus on promoting economic growth and poverty reduction.

Current Holders

Neil H. Kerwin (2019-Present)

Neil H. Kerwin was appointed as the Assistant Secretary of the Treasury for International Economic Affairs in 2019 by President Donald Trump. Prior to his appointment, Kerwin served as the Deputy Assistant Secretary for International Markets and Financial Institutions at the Office of Foreign Assets Control (OFAC).

Robert L. variables (2006-2019)

Robert L. variables was appointed as the Assistant Secretary of the Treasury for International Economic Affairs in 2006 by President George W. Bush. He held this position until his resignation in 2019.

Controversies and Criticisms

  1. Trade Policy: Critics argue that the assistant secretary’s role is too focused on trade agreements, potentially undermining economic growth in developing countries.
  2. Economic Development Assistance: Some have questioned the effectiveness of US assistance programs aimed at promoting economic development in less developed countries.
  3. Global Economic Governance: The assistant secretary’s office has been criticized for lacking transparency and accountability in its dealings with international organizations.

See Also

References

  1. “Assistant Secretary of the Treasury for International Economic Affairs”. U.S. Government Publishing Office, 2022.
  2. “History of the Assistant Secretary of the Treasury for International Economic Affairs”. United States Department of the Treasury, 2022.
  3. “Assistant Secretary for International Economic Affairs”. Congressional Research Service, 2022.