At the 1994 Summit of the Americas, 34 hemispheric democracies agreed to create a “Free Trade Area of the Americas” (FTAA) no later than 2005. If created, the FTAA would be a $13 trillion market of 34 countries (Cuba is not included) and nearly 800 million people. The population alone would make it the largest free trade area in the world with nearly twice the 450 million population of the now 25-nation European Union. In the nearly ten years following the 1994 summit, Western Hemisphere trade ministers have met eight times to advance the negotiating process. At the last ministerial held from November 17- 20 2003 in Miami, ministers agreed to a declaration that set a September 2004 deadline for the market access talks, created a two-tiered FTAA structure, and reaffirmed countries’ commitment to complete the entire FTAA by January 2005.

This report discusses trade issues in the 109th Congress. For over 50 years, U.S. trade officials have negotiated multilateral trade agreements to achieve lower trade barriers and rules to cover international trade. During the 108th Congress, U.S. officials negotiated and Congress approved four bilateral free-trade agreements with Australia, Chile, Morocco, and Singapore.

This report discusses trade issues in the 109th Congress. For over 50 years, U.S. trade officials have negotiated multilateral trade agreements to achieve lower trade barriers and rules to cover international trade. During the 108th Congress, U.S. officials negotiated and Congress approved four bilateral free-trade agreements with Australia, Chile, Morocco, and Singapore.