Impact of US free trade agreements

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.

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