During an exit news conference, United States Trade Representative Susan Schwab cited the ups and downs of the Doha Round of World Trade Organization global talks aimed at lowering trade barriers around the world and allowing countries to increase trade globally.
"While we've made significant progress, obviously it is a disappointment to me that we have not been able to meet the promise of the Doha Round and were not able to close it," Schwab said. "But we have made progress; we've laid some groundwork."
Schwab said it is her hope that the Obama Administration will invest the time and energy necessary to reach a successful, balanced and ambitious outcome to the round which has been going on since 2001.
Despite the desire to conclude these talks and get a deal done, Schwab cautioned that signing a deal for the sake of signing a deal is not the way to go and no deal is better than a bad deal.
As the new administration takes over, Schwab talked about trade policy and her belief that the pro-growth, pro-trade policies that characterized the Bush Administration need to continue.
"Shutting our doors would encourage reciprocal protectionist action on the part of other nations and really risk a downward spiral," Schwab said.