PROPOSED U.S.-CHILE FREE TRADE AGREEMENT ON HORIZON

PROPOSED U.S.-CHILE FREE TRADE AGREEMENT ON HORIZON    A free trade agreement between the United States and Chile is edging closer to reality as the U.S. government begins to study the potential economic impact of this agreement on the country’s industry.
   President Clinton and Chile’s President Ricardo Lagos proposed developing a bilateral free trade agreement between the countries in November. The goal is to seek the elimination of duties and commercial barriers for U.S.- and Chilean-origin goods and services traded between the countries. Other aspects of the agreement will cover investments, trade-related aspects of intellectual property rights, government procurement, and environmental and labor matters.
   The Trade Policy Staff Committee of the Office of the U.S. Trade Representative has requested that the International Trade Commission conduct an impact study of the agreement, which will review a number of issues such as the economic costs and benefits to U.S. producers and consumers of the removal of tariffs and non-tariff barriers to U.S.-Chile trade. The industry must submit comments about the proposed free trade agreement to the committee by Jan. 29.