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• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [April 20, 2015]

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  "The economic and trade relationship with Mexico is of interest to U.S. policy makers because of Mexico's proximity to the United States, the high level of bilateral trade, and the strong cultural and economic ties that connect the two countries. Also, it is of national interest for the United States to have a prosperous and democratic Mexico as a neighboring country. Mexico is the United States' third-largest trading partner, while the United States is, by far, Mexico's largest trading partner. Mexico ranks third as a source of U.S. imports, after China and Canada, and second, after Canada, as an export market for U.S. goods and services. The United States is the largest source of foreign direct investment (FDI) in Mexico. The United States and Mexico have strong economic ties through the North American Free Trade Agreement (NAFTA), which has been in effect since 1994. […] In June 2012, Mexico and Canada joined negotiations for the proposed TPP [Trans-Pacific Partnership]. If approved, the agreement would likely enhance the economic links Mexico already has with the United States and Canada under NAFTA. Policy makers may consider how a TPP would affect the U.S.-Mexico trade and investment relationship under NAFTA. Although nearly all U.S. trade with Mexico is now conducted duty and barrier free under NAFTA, the TPP negotiations may provide a venue for addressing issues that are not covered under the agreement. If approved, a TPP would not render NAFTA obsolete, but it could alter certain rules governing U.S.-Mexico trade since NAFTA entered into force. A TPP may have implications in several areas, including intellectual property rights protection, investment, state-owned enterprises, services trade, agriculture, government procurement, worker rights, and the environment." This report is supplemented by multiple charts and graphs displaying financial relationships between the three countries.

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2015-04-20
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [November 4, 2016]

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  "The U.S.-Mexico bilateral economic relationship is of key interest to the United States because of Mexico's proximity, the high volume of trade with Mexico, and the strong cultural and economic ties between the two countries. The United States and Mexico share many common economic interests related to trade, investment, and regulatory cooperation. The two countries share a 2,000 mile border and have extensive interconnections through the Gulf of Mexico. There are also links through migration, tourism, environmental issues, health concerns, and family and cultural relationships. The 114th Congress has maintained an active interest on issues related to the proposed Trans-Pacific Partnership (TPP) agreement and possible effects on U.S.-Mexico trade relations; NAFTA [North Atlantic Free Trade Agreement] and WTO [World Trade Organization] trade issues; U.S.-Mexico trade and investment issues; Mexico's economic reform measures, especially in the energy sector; and U.S.-Mexico border management. Congress has also taken an interest in the economic policies of Mexico's President, Enrique Peña Nieto. Since entering into office on December 1, 2012, Peña Nieto has successfully driven numerous economic and political reforms that include, among other measures, opening up the energy sector to private investment, countering monopolistic practices, passing fiscal reform, making farmers more productive, and increasing infrastructure investment. […] This report provides an overview of U.S.-Mexico economic relations, trade trends, the Mexican economy, NAFTA, and trade issues between the United States and Mexico. It will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2016-11-04
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [Updated July 11, 2005]

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  "The overall effect of NAFTA on the U.S. economy has been relatively small, primarily because two-way trade with Mexico amounts to less than three percent of U.S. GDP. The most significant trade issues that the United States and Mexico are focusing on in 2005 include agricultural products, the trucking industry, and rules of origin. Over the last decade, the economic relationship between the United States and Mexico has strengthened significantly. The two countries continue to cooperate on issues of mutual concern. On March 23, 2005, President Bush met with President Fox and Prime Minister Martin of Canada to discuss issues related to North American trade, immigration and defense. After the meeting, the three leaders announced the Security and Prosperity Partnership of North America (SPP) in which they seek to establish a cooperative approach to advance their common security and prosperity; develop a common security strategy; and promote economic growth, competitiveness, and quality of life. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2005-07-11
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [May 25, 2005]

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  "The bilateral economic relationship with Mexico is among the most important for the United States. The most significant feature of the relationship is the North American Free Trade Agreement (NAFTA), which has been in effect since 1994. In bilateral trade, Mexico is the United States' second most important trading partner, while the United States is Mexico's most important trading partner. In U.S. imports, Mexico ranks third among U.S. trading partners, after Canada and China, while in exports Mexico ranks second, after Canada. The United States is the largest source of foreign direct investment (FDI) in Mexico. These links are critical to many U.S. industries and border communities."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2005-05-25
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [February 10, 2015]

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  "During the 114th Congress, policy makers will likely maintain an interest in Mexico on issues related to cross-border trade and investment; Mexico's economic reform measures, especially in the energy sector; the Trans-Pacific Partnership (TPP) agreement negotiations; NAFTA [North American Free Trade Agreement] and WTO trade issues; and U.S.-Mexico border management. Congress may also take an active interest in ongoing bilateral efforts to promote economic competitiveness, increase regulatory cooperation, and pursue energy integration. Under the U.S.-Mexico High Level Economic Dialogue (HLED), which was launched in September 2013, the United States and Mexico are striving to advance economic and commercial priorities through annual meetings at the Cabinet level that also include leaders from the public and private sectors. Another bilateral initiative that may be of interest to policy makers is the High-Level Regulatory Cooperation Council (HLRCC), launched in February 2012, which is intended to help align regulatory principles. In addition, the two countries have a bilateral initiative for improving border management under the Declaration Concerning 21st Center Border Management that was announced in 2010. […] Policy makers may consider how a TPP would affect the U.S.-Mexico trade and investment relationship under NAFTA. Although nearly all U.S. trade with Mexico is now conducted duty and barrier free under NAFTA, the TPP negotiations may provide a venue for addressing issues that are not covered under the agreement. If approved, a TPP would not render NAFTA obsolete, but it could alter certain rules governing U.S.-Mexico trade since NAFTA entered into force. A TPP may have implications in several areas, including intellectual property rights protection, investment, state-owned enterprises, services trade, agriculture, government procurement, worker rights, and the environment."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2015-02-10
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [July 1, 2014]

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  "During the remainder of the 113th Congress, policymakers will likely maintain an interest in Mexico on issues related to cross-border trade, Mexico's participation in the Trans-Pacific Partnership (TPP) agreement negotiations, energy sector and other reforms in Mexico, economic conditions in Mexico, migration, and border issues. Congress may take a more active interest in the opening of Mexico's energy sector to foreign and private investment for the first time in 76 years. President Peña Nieto began his presidency with an ambitious reform agenda. In December 2013, he signed into law a constitutional amendment that will allow oil companies to gain access to untapped oil reserves in Mexico, which are estimated to be as high as 113 billion barrels. The Mexican Congress must approve secondary legislation to implement the historic reforms. Most industry experts agree that Mexico's state-owned oil monopoly, Petróleos Mexicanos (Pemex) lacks the financial and technical resources to operate its existing fields efficiently or to expand into new fields."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2014-07-01
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [March 19, 2013]

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  "The bilateral economic relationship with Mexico is of key interest to the United States because of Mexico's proximity, the high volume of trade with Mexico, and the strong cultural and economic ties between the two countries. The United States and Mexico share many common interests related to trade, investment, and regulatory cooperation. The two countries share a 2,000 mile border and have extensive interconnections through the Gulf of Mexico. There are also links through migration, tourism, environmental issues, health concerns, and family and cultural relationships. The 113th Congress will likely maintain an active interest in Mexico on issues related to crossborder trade between the two countries, Mexico's participation in the Trans-Pacific Partnership (TPP) agreement negotiations, economic conditions in Mexico, migration, and border issues. Congress may also take an interest in the economic policies of Mexico's new President, Enrique Peña Nieto, who entered into office on December 1, 2012. During his campaign, Peña Nieto advocated a 10-point economic plan that includes, among other measures, implementing recently passed legislation to counter monopolistic practices, passing fiscal reform, opening up the oil sector to private investment, making farmers more productive, and doubling infrastructure investments. Peña Nieto also endorses an active international trade policy aimed at increasing Mexico's trade with Asia, South America, and other markets. His government is taking an active role in the negotiations for a TPP. This report provides an overview of U.S.-Mexico economic relations, trade trends, the Mexican economy, NAFTA [North American Free Trade Agreement], and trade issues between the United States and Mexico. It will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2013-03-19
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [Updated January 25, 2008]

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  "The bilateral economic relationship with Mexico is among the most important for the United States. The most significant feature of the relationship is the North American Free Trade Agreement (NAFTA), which has been in effect since 1994. In terms of total trade, Mexico is the United States' second largest trading partner, while the United States ranks first among Mexico's trading partners. In U.S. imports, Mexico ranks third among U.S. trading partners, after Canada and China, while in exports Mexico ranks second, after Canada. The United States is the largest source of foreign direct investment (FDI) in Mexico. These links are critical to many U.S. industries and border communities. […]. Over the last decade, the economic relationship between the United States and Mexico has strengthened significantly. The two countries continue to cooperate on issues of mutual concern. On March 23, 2005, President Bush met with the leaders of Mexico and Canada to discuss issues related to North American trade, immigration and defense. After the meeting, the three leaders announced the Security and Prosperity Partnership of North America (SPP), an initiative that is intended to increase cooperation and information sharing in an effort to increase and enhance prosperity in the United States, Canada, and Mexico. In March 2006, the three countries agreed to advance the SPP agenda by focusing on five high priority areas. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2008-01-25
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [Updated January 24, 2005]

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  "The overall effect of NAFTA on the U.S. economy has been relatively small, primarily because two-way trade with Mexico amounts to less than three percent of U.S. GDP. The most significant trade issues that the United States and Mexico are focusing on in 2005 include agricultural products, the trucking industry, and rules of origin. Over the last decade, the economic relationship between the United States and Mexico has strengthened significantly. The two countries continue to cooperate on issues of mutual concern. On March 23, 2005, President Bush met with President Fox and Prime Minister Martin of Canada to discuss issues related to North American trade, immigration and defense. After the meeting, the three leaders announced the Security and Prosperity Partnership of North America (SPP) in which they seek to establish a cooperative approach to advance their common security and prosperity; develop a common security strategy; and promote economic growth, competitiveness, and quality of life. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2006-01-24
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [April 3 2009]

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  "This report provides an overview of U.S.-Mexico economic trends, background information on the Mexican economy, the effects of NAFTA [North American Free Trade Agreement] on the U.S.-Mexico economic relationship, and major trade issues between the United States and Mexico. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2009-04-03
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [February 24, 2011]

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  "The bilateral economic relationship with Mexico is of key interest to the United States because of Mexico's proximity and because of strong cultural and economic ties between the two countries. Mexico has a population of 113 million people, making it the most populous Spanish-speaking country in the world and the third-most populous country in the Western Hemisphere (after the United States and Brazil). The economic relationship with Mexico has developed strong ties under the North American Free Trade Agreement (NAFTA). Trade between the two countries more than tripled since the agreement was implemented in 1994. Through NAFTA, the United States, Mexico, and Canada form the world's largest free trade area, with about one-third the world's total gross domestic product (GDP). The United States and Mexico share many common interests related to trade, investment, and regulatory cooperation. The two countries share a 2,000 mile border and have extensive interconnections through the Gulf of Mexico. There are links through migration, tourism, environment issues, health concerns, and family and cultural relationships.1 The economic relationship with Mexico is important to U.S. national interests and to the U.S. Congress for many reasons. The 112th Congress will likely maintain an active interest in Mexico on issues related to cross-border trade between the two countries, the implementation of NAFTA trucking provisions, economic conditions in Mexico, migration, counternarcotics, and border issues. This report provides an overview of U.S.-Mexico trade and economic trends, the Mexican economy, the effects of NAFTA, and major trade issues between the United States and Mexico."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2011-02-24
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [June 1, 2007]

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  "Mexico has a population of slightly over 107 million people making it the most populous Spanish-speaking country in the world and the third most populous country in the Western Hemisphere. Based on a gross domestic product (GDP) of $840 billion in 2006 (about 6% of U.S. GDP), Mexico has a free market economy with a strong export sector that is very sensitive to changes in the U.S. economy. Mexico's economy is relatively small compared to the U.S. economy. Economic conditions in Mexico are important to the United States because of the close trade and investment interactions, and because of other social and political issues that are affected by economic conditions, such as immigration. […] The most significant trade issues that the United States and Mexico are focusing on in 2005 involve the following: access of Mexican trucks to the United States; the access of Mexican sugar, tuna, avocados to the U.S. market; and the access of U.S. sweeteners to the Mexican market. Over the last decade, the economic relationship between the United States and Mexico has strengthened significantly. The two countries continue to cooperate on issues of mutual concern. On March 23, 2005, President Bush met with the leaders of Mexico and Canada to discuss issues related to North American trade, immigration and defense. After the meeting, the three leaders announced the Security and Prosperity Partnership of North America (SPP) in which they seek to establish a cooperative approach to advance their common security and prosperity; develop a common security strategy; and promote economic growth, competitiveness, and quality of life. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2007-06-01
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [January 24, 2006]

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  "Mexico has a population of slightly over 100 million people making it the most populous Spanish-speaking country in the world and the third most populous country in the Western Hemisphere. Based on a gross domestic product (GDP) of $677 billion in 2004 (about six percent of U.S. GDP), Mexico has a free market economy with a strong export sector that is very sensitive to changes in the U.S. economy. Mexico's economy is relatively small compared to the U.S. economy. Economic conditions in Mexico are important to the United States because of the close trade and investment interactions, and because of other social and political issues that could be affected by economic conditions, such as immigration. The bilateral economic relationship with Mexico is among the most important for the United States. The most significant feature of the relationship is the North American Free Trade Agreement (NAFTA), which has been in effect since 1994. In bilateral trade, Mexico is the United States' second most important trading partner, while the United States is Mexico's most important trading partner. In U.S. imports, Mexico ranks third among U.S. trading partners, after Canada and China, while in exports Mexico ranks second, after Canada. The United States is the largest source of foreign direct investment (FDI) in Mexico. These links are critical to many U.S. industries and border communities. […] After the meeting, the three leaders announced the Security and Prosperity Partnership of North America (SPP) in which they seek to establish a cooperative approach to advance their common security and prosperity; develop a common security strategy; and promote economic growth, competitiveness, and quality of life. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2006-01-24
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [March 31, 2010]

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  "Mexico has a population of about 111 million people, making it the most populous Spanish-speaking country in the world and the third-most populous country in the Western Hemisphere. Based on a gross domestic product (GDP) of $875 billion in 2009 (about 6% of U.S. GDP), Mexico has a free market economy with a strong export sector. Economic conditions in Mexico are important to the United States because of the proximity of Mexico to the United States, the close trade and investment interactions, and other social and political issues that are affected by the economic relationship between the two countries. The United States and Mexico have strong economic ties through the North American Free Trade Agreement (NAFTA), which has been in effect since 1994. In terms of total trade, Mexico is the United States' third-largest trading partner, while the United States ranks first among Mexico's trading partners. In U.S. imports, Mexico ranks third among U.S. trading partners, after China and Canada, while in exports Mexico ranks second, after Canada. The United States is the largest source of foreign direct investment (FDI) in Mexico. These links are critical to many U.S. industries and border communities."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2010-03-31
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [April 27, 2017]

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  "The economic and trade relationship with Mexico is of interest to U.S. policymakers because of Mexico's proximity to the United States, the high level of bilateral trade, and the strong cultural and economic ties that connect the two countries. Also, it is of national interest for the United States to have a prosperous and democratic Mexico as a neighboring country. Mexico is the United States' third-largest trading partner, while the United States is, by far, Mexico's largest trading partner. Mexico ranks third as a source of U.S. imports, after China and Canada, and second, after Canada, as an export market for U.S. goods and services. The United States is the largest source of foreign direct investment (FDI) in Mexico. [...] The 115th Congress faces numerous issues related to U.S.-Mexico trade and investment relations. The Administration of Donald J. Trump has proposed renegotiating NAFTA [North American Free Trade Agreement], or possibly withdrawing from it. Congress may wish to consider the ramifications of renegotiating or withdrawing from NAFTA and how it may affect the U.S. economy and foreign relations with Mexico. It may also wish to examine the congressional role in a possible renegotiation, as well as the negotiating positions of Mexico and Canada. Mexico has stated that, if NAFTA is reopened, it may seek to broaden negotiations to include security, counter-narcotics, and transmigration issues."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2017-04-27
• US-Mexico Trade Relations [April 9, 2019]

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  From the Document: "The U.S.-Mexico economic and trade relationship is of interest to U.S. policymakers, including Members of Congress, because of Mexico's proximity to the United States, the extensive bilateral trade and investment relationship under the North American Free Trade Agreement (NAFTA), the conclusion of the NAFTA renegotiations and proposed U.S.-Mexico-Canada Agreement (USMCA), and the strong cultural and economic ties that connect the two countries."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles; De La Rosa, Katarina

  2019-04-09
• USMCA: Investment Provisions [April 3, 2019]

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  From the Document: "The United States-Mexico-Canada Agreement (USMCA) is a proposed free trade agreement (FTA) that, if approved by Congress and ratified by Canada and Mexico, would replace the North American Free Trade Agreement (NAFTA). USMCA would retain NAFTA's marketopening measures while adding or updating provisions in areas such as digital trade, intellectual property rights, and worker rights. The proposed agreement would make notable changes to NAFTA's investment provisions--mainly qualifying basic investor protections and limiting the degree to which foreign investors can bring complaints against their host states under the investor-state dispute settlement (ISDS) mechanism. ISDS claims with Canada would be phased out entirely, those with Mexico would be more restricted than under NAFTA. Given the significant changes proposed and the importance of U.S. investment ties with Canada and Mexico, USMCA's investment provisions are likely to be an active part of congressional debate over the USMCA."

  Library of Congress. Congressional Research Service

  Casey, Christopher A.; Villarreal, M. Angeles

  2019-04-03
• USMCA and Mexico's New Labor Law [May 22, 2019]

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  From the Document: "On May 1, 2019, Mexican President Andrés Manual López Obrador signed into law a labor reform bill aimed at enhancing Mexican worker rights by ensuring that workers can vote for their union representatives by secret ballot, establishing the right of workers to join the union of their choice and establishing independent labor courts to resolve disputes and register contracts, among other measures. Critics of Mexico's current labor system argue that the pre-reform laws enable corruption in that they allow employers to influence union elections and prevent workers from voting freely to elect union leaders. The reform bill passed the Mexican House of Representatives and Senate in April 2019. The labor legislation is a commitment under the proposed USMCA [U.S.-Mexico-Canada Agreement]."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2019-05-22
• U.S.-Mexico Economic Relations: Trends, Issues, and Implications [December 6, 2018]

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  "The U.S.-Mexico bilateral economic relationship is of key interest to the United States because of Mexico's proximity, the extensive cultural and economic ties between the two countries, and the strong economic relationship with Mexico under the North American Free Trade Agreement (NAFTA). The United States and Mexico share many common economic interests related to trade, investment, and regulatory cooperation. The two countries share a 2,000-mile border and have extensive interconnections through the Gulf of Mexico. There are also links through migration, tourism, environmental issues, health concerns, and family and cultural relationships. Congress has maintained an active interest on issues related to NAFTA renegotiations and the recently signed U.S.-Mexico-Canada trade agreement (USMCA); U.S.-Mexico trade and investment relations; Mexico's economic reform measures, especially in the energy sector; the Mexican 2018 presidential elections; U.S.-Mexico border management; and other related issues."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2018-12-06
• U.S.- Mexico Economic Relations: Trends, Issues, and Implications [Updated March 26, 2019]

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  From the Document: "The U.S.-Mexico bilateral economic relationship is of key interest to the United States because of Mexico's proximity, the extensive cultural and economic ties between the two countries, and the strong economic relationship with Mexico under the North American Free Trade Agreement (NAFTA). The United States and Mexico share many common economic interests related to trade, investment, and regulatory cooperation. The two countries share a 2,000-mile border and have extensive interconnections through the Gulf of Mexico. There are also links through migration, tourism, environmental issues, health concerns, and family and cultural relationships. [...] This report provides an overview and background information regarding U.S.-Mexico economic relations, trade trends, the Mexican economy, NAFTA, the proposed USMCA [U.S.-Mexico-Canada trade agreement], and trade issues between the United States and Mexico. It will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2019-03-26
• Trade Related Agencies: FY2019 Appropriations, Commerce, Justice, Science and Related Agencies (CJS) [Updated March 28, 2019]

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  From the Document: "The Consolidated Appropriations Act, 2019 (P.L. 116-6), was signed into law on February 15, 2019. The act included a total of $647.0 million in funding for three trade-related agencies under the Commerce, Justice, Science and Related Agencies (CJS) account--the International Trade Administration (ITA), the U.S. International Trade Commission (USITC), and the office of the United States Trade Representative (USTR). This represents a 0.2% decrease from FY2018 appropriations. For FY2019, the Consolidated Appropriations Act, 2019, included $484.0 million in direct appropriations for ITA (a 0.4% increase from the FY2018 appropriation), $95.0 million in funding for USITC (a 1.4% increase), and a total of $68.0 million for USTR (a 0.2% decrease)."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles; Hammond, Keigh E.

  2019-03-28
• U.S.-Peru Trade Promotion Agreement [Updated September 22, 2006]

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  "On April 12, U.S. Trade Representative Rob Portman and Peruvian Minister of Foreign Trade and Tourism Alfredo Ferrero Diez Canseco signed the U.S.-Peru Trade Promotion Agreement (PTPA). The agreement was concluded on December 7, 2005. On January 6, 2006, President Bush notified the Congress of the United States' intention to enter into the PTPA. The PTPA is a comprehensive trade agreement that, if ratified, would eliminate tariffs and other barriers in goods and services trade between the two countries. The labor provisions may be among the more controversial of the agreement. It is unknown when PTPA implementing legislation may be introduced in the U.S. Congress. On June 28, 2006, the Peruvian Congress voted to approve the FTA [Free Trade Agreement] with the United States, with 79 votes in favor of the agreement and 14 votes against it. See also CRS [Congressional Research Service] Report RS22430, 'Peru: 2006 Elections and Issues for Congress', by Maureen Taft- Morales. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2006-09-22
• U.S.-Peru Trade Promotion Agreement [Updated June 5, 2006]

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  "On April 12, U.S. Trade Representative Rob Portman and Peruvian Minister of Foreign Trade and Tourism Alfredo Ferrero Diez Canseco signed the U.S.-Peru Trade Promotion Agreement (PTPA). The agreement was concluded on December 7, 2005. On January 6, 2006, President Bush notified the Congress of the United States' intention to enter into the PTPA. A free trade agreement with Peru was originally intended to be part of a broader U.S.-Andean free trade agreement (FTA), but after negotiators failed to reach agreement, Peru and the United States decided to move forward on a bilateral basis. The PTPA is a comprehensive trade agreement that, if ratified, would eliminate tariffs and other barriers in goods and services trade between the two countries. The labor provisions may be among the more controversial of the agreement. On June 4, 2006, presidential candidate, Alan García, won the run-off elections in Peru. He has stated he will honor the trade agreement with the United States. See also CRS [Congressional Research Service] Report RS22430, 'Peru: 2006 Elections and Issues for Congress', by Maureen Taft-Morales. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2006-06-05
• NAFTA at 20: Overview and Trade Effects [April 11, 2014]

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  "The North American Free Trade Agreement (NAFTA) entered into force on January 1, 1994. The agreement was signed by President George H.W. Bush on December 17, 1992, and approved by Congress on November 20, 1993. The NAFTA Implementation Act was signed into law by President William J. Clinton on December 8, 1993 (P.L. 103-182). The overall economic impact of NAFTA is difficult to measure since trade and investment trends are influenced by numerous other economic variables, such as economic growth, inflation, and currency fluctuations. The agreement may have accelerated the trade liberalization that was already taking place, but many of these changes may have taken place with or without an agreement. Nevertheless, NAFTA is significant because it was the most comprehensive free trade agreement (FTA) negotiated at the time and contained several groundbreaking provisions. A legacy of the agreement is that it has served as a template or model for the new generation of FTAs that the United States later negotiated and it also served as a template for certain provisions in multilateral trade negotiations as part of the Uruguay Round."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles; Fergusson, Ian F.

  2014-04-11
• U.S.-Colombia Free Trade Agreement: Background and Issues [February 14, 2014]

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  "The U.S.-Colombia Trade Promotion Agreement entered into force on May 15, 2012. It is a comprehensive free trade agreement (FTA) between the United States and Colombia, which will eventually eliminate tariffs and other barriers in bilateral trade in goods and services. On October 3, 2011, President Barack Obama submitted draft legislation (H.R. 3078/S. 1641) to both houses of Congress to implement the agreement. On October 12, 2011, the House passed H.R. 3078 (262-167) and sent it to the Senate. The Senate passed the implementing legislation (66-33) on the same day. The agreement was signed by both countries almost five years earlier, on November 22, 2006. The Colombian Congress approved it in June 2007 and again in October 2007, after it was modified to include new provisions agreed to in the May 10, 2007, bipartisan understanding between congressional leadership and President George W. Bush. The United States is Colombia's leading trade partner. Colombia accounts for a very small percentage of U.S. trade (1% in 2013), ranking 31st among U.S. export markets and 33rd among foreign exporters to the United States. Because the FTA has been in effect for less than two years, the effect of the agreement is not yet clear. Economic studies estimate that, upon full implementation, the impact on the United States would be positive but very small due to the small size of the Colombian economy when compared to that of the United States (about 2.2%)."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2014-02-14
• Pacific Alliance: A Trade Integration Initiative in Latin America [October 2, 2014]

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  "The Pacific Alliance is a regional integration initiative formed by Chile, Colombia, Mexico, and Peru on April 28, 2011. Its main purpose is for members to form a regional trading bloc and forge stronger economic ties with the Asia-Pacific region. Costa Rica and Panama are candidates to become full members once they meet certain requirements. The United States joined the Alliance as an observer on July 18, 2013. The United States has free trade agreements with all four countries and has significant trade and foreign policy ties with the region. The Pacific Alliance is of interest to Congress because of the role of the United States as an observer country and also because of the strong linkages between the United States and the member countries. It may also be of interest to Congress in the context of the ongoing negotiations for the proposed Trans- Pacific Partnership (TPP) agreement. Three of the four Pacific Alliance member countries are participating in the TPP negotiations. The Alliance was officially created when the heads of state of Chile, Colombia, Mexico, and Peru signed a 'Presidential Declaration for the Pacific Alliance', now known as the Lima Declaration. The objectives are to build an area of deep economic integration; to move gradually toward the free circulation of goods, services, capital, and persons; to promote economic development, regional competiveness, and greater social welfare; and to become a platform for trade integration with the rest of the world, with a special emphasis on the Asia-Pacific region. One of the requirements for membership is that a country must have free trade agreements with all other member countries."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2014-10-02
• Mexico's Oil and Gas Sector: Background, Reform Efforts, and Implications for the United States [October 23, 2014]

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  "Mexico is a top trade partner and crude oil supplier to the United States. Mexico's state oil company, Petroleos Mexicanos (Pemex) remains an important source of government revenue even as it is struggling to counter declining oil production and reserves. Due to an inability to meet rising demand, Mexico has also significantly increased natural gas imports from the United States. Still, gas shortages have hindered the country's economic performance, including in manufacturing sectors that are highly integrated with U.S. industries. On December 20, 2013, Mexican President Enrique Peña Nieto signed historic constitutional reforms related to Mexico's energy sector aimed at reversing oil and gas production declines. On August 11, 2014, secondary laws to implement those reforms officially opened Mexico's oil, natural gas, and power sectors to private investment. As a result, Pemex can now partner with international companies that have the experience and capital required for exploring Mexico's vast deep water and shale resources. […] The opening of Mexico's oil and natural gas sector could expand U.S.-Mexico energy trade and provide opportunities for U.S. companies involved in the hydrocarbons sector, as well as infrastructure and other oil field services. If these reforms accelerate growth and investment in Mexico (as the government has stated) they could also benefit North American competitiveness."

  Library of Congress. Congressional Research Service

  Seelke, Clare Ribando; Villarreal, M. Angeles; Hagerty, Curry L. . . .

  2014-10-23
• Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) [Updated August 22, 2019]

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  From the Overview: "CAFTA-DR [Dominican Republic-Central America-United States Free Trade Agreement] is a free trade agreement (FTA) among the United States, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic. It eliminates on a reciprocal basis tariff and nontariff barriers on goods, services, and agriculture, building on U.S. unilateral trade preferences begun under the 1983 Caribbean Basin Initiative (CBI). The agreement reinforces U.S. support for trade liberalization and expansion as a foundation of broader foreign economic, political, and security policies in the region."

  Library of Congress. Congressional Research Service

  De La Rosa, Katarina; Villarreal, M. Angeles

  2019-08-22
• U.S.-Colombia Trade Promotion Agreement [August 2, 2007]

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  "On November 22, 2006, Deputy U.S. Trade Representative John Veroneau and Colombian Minister of Trade, Industry, and Tourism, Jorge Humberto Botero, signed the Colombia Trade Promotion Agreement (CTPA), a bilateral free trade agreement between the United States and Colombia. President Bush notified Congress on August 24, 2006, of his intention to enter into the CTPA. The CTPA is a comprehensive trade agreement which, if ratified, would eliminate tariffs and other barriers in goods and services trade between the United States and Colombia. The 110th Congress may consider implementing legislation for the agreement under the 2002 Trade Promotion Authority (TPA) procedures. Under TPA, the President would submit formally to Congress the draft agreement and implementing legislation after entering into the agreement, but with no time limit to do so. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles

  2007-08-02
• Trade Preferences: Economic Issues and Policy Options [February 24, 2011]

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  "Since 1974, Congress has created multiple trade preference programs designed to foster economic growth and development in less developed countries. These programs give temporary, non-reciprocal, duty-free U.S. market access to select exports of eligible countries. Congress conducts regular oversight of these programs, often revising and extending them. The 112th Congress may consider two major issues relating to trade preference programs: (1) the expiration of the Generalized System of Preferences (GSP) on December 31, 2010; and (2) continued extension of the Andean Trade Preference Act beyond February 12, 2010. The 112th Congress may also consider broader reform of the preference programs based on comprehensive reviews in hearings held in both the House and the Senate in the 111th Congress."

  Library of Congress. Congressional Research Service

  Villarreal, M. Angeles; Hornbeck, J. F. (John F.); Jones, Vivian Catherine

  2011-02-24