The world has achieved almost more free trade in the next round, known as the Doha Round Trade Agreement. If successful, Doha would have reduced tariffs for all WTO members overall. They cover a wider geographic area, giving signatories a greater competitive advantage. All countries also give themselves the status of the most favoured nation – and grant the best conditions of mutual trade and the lowest tariffs. Trade agreements that the WTO considers preferential agreements are also called regional (RTA), although they are not necessarily concluded by countries within a given region. Currently, 205 agreements are in effect as of July 2007. More than 300 people have been notified to the WTO.  The number of free trade agreements has increased significantly over the past decade. Between 1948 and 1994, the General Agreement on Tariffs and Trade (GATT), predecessor to the WTO, received 124 notifications. Since 1995, more than 300 trade agreements have been concluded.  The logic of formal trade agreements is that they tighten sanctions in the event of a departure from the rules set out in the agreement.
 As a result, trade agreements make misunderstandings less likely and create confidence on both sides in the sanction of fraud; this increases the likelihood of long-term cooperation.  An international organization such as the IMF can further encourage cooperation by monitoring compliance with agreements and reporting violations.  It may be necessary to monitor international agencies to detect non-tariff barriers that are disguised attempts to create barriers to trade.  Three things are remarkable because they relate to the interaction of international economic and foreign policy. First, while it is generally accepted that the United States played a key role in asia`s financial stabilization, foreign perception of the U.S. role has been affected by a highly partisan debate about the U.S. financial contribution to the IMF and the inability of the United States to promise financing to Treaty ally Thailand because of restrictions imposed by the exchange rate stabilization fund imposed during the crisis. Second, as many trade negotiations do, although our security agenda is well served, if we help our friends and allies in times of financial crisis, the tone of taking your medicine is the abrupt tone of the U.S. commitment, which includes America in the role that the IMF`s strict conditions are linked to strict IMF conditions that can affect our relations. Third, trade policy was an integral part of the rapid recovery of the crisis. Although there have been some experiences on financial conditions, no country in crisis has significantly strayed from its open trade commitments.
And the strength of the U.S. economy, coupled with President Clinton`s commitment to keep markets open, has been a key contribution to the recovery, despite the recession in Japan and weak growth in Europe. In the end, the Clinton administration was able to advance the major economic and security interests of the United States on several fronts: in the Western Hemisphere, in East Asia and, to some extent, with Africa. Relations with Japan have improved over time, with the relative economic positions of the United States and Japan having changed dramatically and the government has changed course. The Clinton administration can also be given significant international leadership on systemic issues and has contributed to strengthening the multilateral trading system and promoting international financial stabilization. But the government also ended in some notable failures, leaving its successor with a controversial relationship with the EU and leaving doubts abroad about America`s ability to demonstrate the political will to continue to play a leading role in international trade. Certainly, in the 1990s, the public became aware of trade and activism among NGOs and students. In the United States, this trend reflected two converging forces.