The U.S. International Trade Commission (ITC) today released its report assessing the comprehensive bilateral free trade agreement (FTA) that the President has entered into with Australia.
The investigation, U.S.-Australia Free Trade Agreement: Potential Economywide and Selected Sectoral Effects, was requested by the U.S. Trade Representative (USTR).
The Trade Act of 2002 granted the President authority to negotiate trade agreements which can only be approved or disapproved (but not amended) by the U.S. Congress. The law requires the ITC to prepare a report that assesses the likely impact of a proposed FTA on the U.S. economy as a whole and on specific industry sectors and the interests of U.S. consumers. In preparing its assessment, the ITC also is required to review available economic assessments regarding the agreement in question, including literature regarding any substantially equivalent proposed agreement.
U.S.-Australia Free Trade Agreement: Potential Economywide and Selected Sectoral Effects (Investigation No. TA-2104-11, USITC publication 3697, May 2004) is posted in the Publications section of the ITC Internet site at www.usitc.gov. CD-ROM and printed copies may be requested by calling 202-205-1809 or by writing the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may also be made by fax to 202-205-2104.