U.S. FOREIGN TRADE POLICY IN THE CHANGING WORLD ECONOMY Sheng Bing (30) U.S. foreign trade policy plays a decisive role in multilateral global and regio nal trade relations, with the new mercantile principle of reciprocity in trade a s its foundation. Since world War II, and since the early nineties in particular , the fast changing world economy and the struggles for power between the two pa rties and among interest groups in the United States have been influencing U.S. foreign trade policy. Relying mainly on multilateralism with regionalism and uni lateralism on the subsidiary, the new multitrack trade system is a major correct ion to the sole and overly dependence on multilateralism in American history. As the U.S. power status changes, the checks and balances among American interest g roups will play a more important role in the making of foreign trade policy.