From 1997 to 2001, Fisher served as Deputy U.S. Trade Representative, serving under U.S. Trade Representative Charlene Barshefsky, where he was responsible for the implementation of NAFTA, and negotiating a variety of trade agreements, including the bilateral accords admitting both the People's Republic of China and Taiwan to the World Trade Organization. From 2001 to 2005, he served as Vice Chairman of Kissinger McLarty Associates, a strategic advisory firm headed by former U.S. Secretary of State Henry Kissinger and former White House Chief of Staff Mack McLarty. He left the firm in April, 2005, when he was appointed as President of the Federal Reserve Bank of Dallas serving in that post until 2015.