The US President has signed”>http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2003/09/02/national0210EDT0427.DTL”>signed into law the agreements with Chile and Singapore.
” While the amount of U.S. trade with the two countries is modest—Singapore is America’s 12th largest trading partner with two-way transactions worth about $40 billion and Chile has bilateral trade of about $8.8 billion—the agreements could serve as models for next-stage free trade zones involving Central America and the entire Western Hemisphere. ” _from_ SFGate”>http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2003/09/02/national0210EDT0427.DTL”>SFGate
Two-way trade with Australia—likely to be the next agreement partner by the end of this year—is about half of the US trade with Singapore. But Australia is a much bigger economy which produces many of the same goods (particularly food and fibers) that are considered sensitive in the USA, often at a lower price.