NATION : U.S., Mexico Plan Free Trade
President Bush informed Congress today the United States plans to start negotiations with Mexico on a free trade zone between the two countries.
In a letter to the House Ways and Means Committee and the Senate Finance Committee, Bush also said that Canada has expressed a desire to participate in the negotiations “with a view to negotiating an agreement among all three countries.”
A free trade agreement would eliminate tariffs and duties on the flow of goods, services and investment, which would be phased out over a period of time to be negotiated, but which could stretch for as long as 10 years.
Bush said initiation of negotiations for a free trade zone was proposed in a letter Aug. 21 from Mexican President Carlos Salinas de Gortari.
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