Friday, January 06, 2006

Bush's Trade Agreement Legacy

In my estimation President Clinton's greatest economic achievement was securing the passage of the WTO and NAFTA. By contrast, to many trade experts the Bush Administration has not been a forceful proponent of free trade. Steel safeguards and Canadian softwood lumber are exhibits one and two for the case that, when necessary, this administration will sacrifice free trade for other policy or political objectives.

But there is one area where free trade is on the march because of President Bush. The Bush Administration is proving to be a landmark one in the history of trade for the establishment of new free trade agreements. Quietly and unassumingly, the Bush Administration is moving toward an impressive legacy of free trade agreements.

Already the Bush Administration has signed FTAs with thirteen countries: Chile, Singapore, Australia, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Morocco, Bahrain, Oman, and Peru. Of course, most of these fall within the rubric of CAFTA. With the signing of CAFTA, the United States now has trade accords with the two largest U.S. export markets in Latin America: Mexico and Central America. Consider this news summary on CAFTA:
The U.S. exports more than $15 billion annually to Central America and the Dominican Republic, making it the 10th largest export market worldwide, and larger than the export markets of Russia, India, and Indonesia combined. CAFTA levels the playing field, as 80% of CAFTA products already enter the U.S. duty-free under Caribbean Basin Initiative (CBI) and the General System of Preferences (GSP).
After CAFTA came Peru. On December 7, 2005 the United States signed a free trade agreement with Peru. Trade between the two countries exceeds $5.8 billion and U.S. exports to Peru in 2004 were $2.1 billion.

The remaining years of the Bush Administration will focus on new countries. Negotiations are under way with ten more countries: Colombia, Ecuador, United Arab Emirates, Panama, Thailand, South Africa, Batswana, Lesotho, Namibia, and Swaziland. Each individual country may not be a significant trading partner standing alone, but as noted here, "New and pending FTA partners, taken together, would constitute America's third largest export market and the sixth largest economy in the world."

Then in today's trade press comes the news that the United States is considering FTAs with Switzerland, Korea, Egypt, and Malaysia. The U.S. has set an informal late January or mid-February deadline for formally announcing that it is launching official negotiations with new FTA partners.

Thirteen FTAs so far. Ten more in current negotiations. The possibility of an additional four, including Switzerland. It may not be the WTO and NAFTA, but it is a quiet and quite impressive free trade agreement legacy.


Blogger bet911 said...

A lot of people ask me how I like living in Costa Rica. My answer is, it was the best

decision that I made in my life. I came to Costa Rica 7 years ago on a vacation and quickly

fell in love with the beauty of the country and the hospitality of the people here. I

couldn't wait to come back. I started coming here about 4 times per year and always had a

great time and didn't want to leave. Two years ago, I decided to leave Arizona and come

live in Paradise. I can not tell you how happy I am that I made that decision. Today, I

wake up next to the ocean and run on the beach every morning. I eat the most delicious

fruits, vegetables and fresh seafood. My stress levels are much lower than when I was

living in the States and the potential here for investing, truly is unlimited. The best

part of living here is showing our clients this country. I really don't feel like I have a

job for the first time in my life. The joy I receive when I see the look on people's faces

when they get into the warm water of the Pacific ocean is truly priceless. For those of you

that have come and discovered paradise, you know what I am talking about. For those of you

that are on the way, I can't wait to get you here. And to those who are thinking about

Costa Rica, please do yourself a favor and come down. You will have the time of your life.

We invite you to take a tour on our website, and if should more information is required:

Great preconstruction condos in costa rica
Condo sales in costa rica, Retirement property. Visit us for more info at:

11/02/2007 2:46 PM  
Blogger Adi said...

Oes Tsetnoc | Mengembalikan Jati Diri Bangsa | Kenali dan Kunjungi Objek Wisata di Pandeglang | Oes tsetnoc | Online Marketing | Electronics Gadgets | etips solution | Travel Guide

10/27/2009 3:38 AM  
Blogger beautifuls said...

Buy cheap Classic Cambridge Satchel Music Combridge Satchel Designer Combridge Satchel Metallic Combridge Satchel and Limited Combridge Satchel with cheap price and high quality.

2/23/2012 9:41 PM  
Blogger Rainman Mark said...

I liked your article, I will share your article to everyone!!

RS gold|Diablo 3 Gold|GW2 gold|WoW Gold

3/02/2013 5:55 AM  
Blogger jay paul said...

Really nice post, you got great blog and Thank you for sharing This excellently written content. Waiting for next one.

HP - Pavilion 17.3" Laptop - 4GB Memory - 500GB Hard Drive - Sparkling Black

HP - ENVY TouchSmart 15.6" Touch-Screen Laptop - 8GB Memory - 750GB Hard Drive - Natural Silver

11/19/2013 7:31 AM  
Blogger Learn Chinese language on hanbridgemandarin said...

The best place to learn mandarin Chinese is in China. However, we understand that it isn't always possible to move here to study Chinese language. The next best thing is to study with our experienced teachers in a virtual classroom. Online students enjoy the same excellent way of Chinese Online Courses and custom designed courseware that we provide for our face to face clients.

2/03/2015 1:30 AM  
Blogger Lin Huang said...

christian louboutin outlet
abercrombie outlet
oakley sunglasses cheap
prada uk
oakley sunglasses
ray ban outlet
coach factorty outlet
gucci outlet
louis vuitton handbags
michael kors outlet online
toms outlet
ray ban uk
michael kors outlet online
yoga pants
michael kors
true religion jeans
true religion outlet
burberry outlet online
concords 11
louis vuitton outlet
michael kors
kate spade
lebron james basketball shoes
coach factory outlet online
oakley sunglasses
louis vuitton handbags
replica watches
coach outlet
michael kors handbags
louis vuitton outlet
christian louboutin shoes
michael kors outlet
michael kors
toms shoes
christian louboutin
coach factory outlet online
jordan 11 gamma blue
cheap toms

6/08/2015 10:21 PM  

Post a Comment

<< Home