The US economy is struggling out of its deepest recession since the 1930s. In this climate, economic policy promises made by the presidential candidates are critical. This column reviews the facts on the state of the US economy, and how it got there, before reviewing the candidates’ promises. Given the monumental challenges, the lack of policy detail from the candidates is worrying.

Six months into his presidency, Barack Obama has failed to grasp the nettle on trade and investment policy. This column says Obama has been weak and indecisive in the face of deep divisions within the Democratic Party over international economic policy. His deference to Congress has resulted in poor policymaking.

The US is doing little to further the Doha round of WTO negotiations. Has the Obama administration merely had its hands full with other issues in its early days? This column says that the neglect is intentional – US politics have shifted against trade and the administration has acted in ways that might jettison the current negotiations.