Beyond Rhetoric: A Renewed U.S. Commitment to Hemispheric Free Trade

Publication Date: September 2002

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): Cresencio Arcos

Research Area: Trade

Keywords: Trade and foreign aid

Type: Report

Abstract:

Contrary to the many accounts that the vision of the Summit of the Americas (in reference to the Hemispheric Summit in Miami in 1994) is being fulfilled, the Hemispheric trade agenda is in a holding pattern. That nothing of tremendous substance came out of the Cartagena meetings should be of no surprise. In fact, that they even agreed to meet again next year to continue the dialogue should give us great cause to celebrate. There are several reasons why the Hemispheric trade agenda at this moment appears to be a rudderless ship, being pulled here and there by the daily tides: the peso crisis in Mexico, election year politics in the U.S., and the increased influence of Brazil in promoting a Hemispheric trade regime different from the NAFTA.