ITC: U.K.-NAFTA AGREEMENT WILL BOOST TRADE

ITC: U.K.-NAFTA AGREEMENT WILL BOOST TRADE    The U.S. International Trade Commission has sent a report to the U.S. Congress supporting a free trade agreement between the United States, Mexico, Canada and United Kingdom.
   The United Kingdom imported over $100 billion in goods and services from North America and exported about $665 billion in 1998, according to the ITC report. The United States is the United Kingdom’s single largest trading partner and accounts for about 90 percent of the United Kingdom’s trade with North America.
   Depending on the United Kingdom’s status with the European Union, an elimination of tariffs on products traded between the U.S. and the U.K. would increase U.S. imports from Britain between 7 and 12 percent, and U.S. exports to the U.K. would increase by 11 to 16 percent, the report said.