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| Pending Free Trade Agreements | ||
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Published 20030514 |
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On May 6, 2003, the United States signed a free trade agreement
with Singapore. This is perhaps the most
significant trade agreement with another country since the North
American Free Trade Agreement (NAFTA). Exports from the United
States to Singapore will immediately be entitled to
duty free treatment while duty on imports from Singapore will
be phased out within eight years. The agreement is subject to
approval by the Senate.
Australia is another country marked for a free trade agreement by the end of this year. It is expected that the agreement will go before Congress in 2004. One of the serious snags in reaching an agreement between the two countries is Australia's insistence on elimination U.S. farm subsidies. A free trade agreement between the United States and Chile is still waiting for the president's signature. |
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