Bush, in his annual economic report to Congress, made a fresh pitch for breaking down trade barriers and energizing global trade talks. He also called on Congress to extend his authority to negotiate free-trade deals, a request likely to face an uphill battle in the Democratic-controlled Congress.

"This authority is essential to completing good trade agreements," Bush wrote in the introduction to the report. "The Congress must renew it if we are to improve our competitiveness in the global economy."

With the United States racking up record trade deficits and facing intense competition from rapidly growing China and India, global trade tensions have intensified.