ABSTRACT

Free Trade Agreements: Impact on U.S. Trade and Implications for U.S. Trade Policy [Updated June 24, 2005]   [open pdf - 81KB]

"In the last few years, the United States has considered bilateral and regional free trade areas (FTAs) with a number of trading partners. Such arrangements are not new in U.S. trade policy. The United States has had a free trade arrangement with Israel since 1985 and with Canada since1989. The latter was suspended when the North American Free Trade Agreement (NAFTA) that included the United States, Canada, and Mexico, went into effect in January 1994. U.S. interest in bilateral and regional free trade arrangements has surged. In 2000, the Clinton Administration began and completed negotiations with Jordan on a bilateral free trade agreement (FTA), and the Bush Administration supported the agreement. The U.S.-Jordan FTA went into effect with the enactment of the United States-Jordan Free Trade Area Implementation Act (P.L.107-43) on September 28, 2001. The FTAs with Chile and Singapore entered into force on January 1, 2004. Perhaps encouraged by the passage and enactment of legislation granting the President trade promotion authority (TPA), as contained in the Trade Act of 2002 (P.L.107-210 -- signed into law on August 6, 2002), the Bush Administration has moved ahead with a trade agenda that contains an unprecedented number of FTAs. In 2004, agreements with Australia and Morocco were signed, approved by the Congress. The agreement with Australia entered into force on January 1, 2005. An agreement with Bahrain was also signed. An agreement with Central American countries and one with the Dominican Republic were also signed. The President sent Congress draft implementing legislation on June 23, 2005. […] This report will monitor pending and possible proposals for U.S. FTAs, relevant legislation and other congressional interest in U.S. FTAs. The report will be revised as events warrant."

Report Number:
CRS Report for Congress, RL31356
Author:
Publisher:
Date:
2005-06-24
Series:
Copyright:
Public Domain
Retrieved From:
Department of State: http://fpc.state.gov/c18185.htm
Format:
pdf
Media Type:
application/pdf
URL:
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