[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 315 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                 S. 315

To authorize negotiation of free trade agreements with the countries of 
                 the Americas, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

             February 4 (legislative day, January 5), 1993

   Mr. Gramm introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To authorize negotiation of free trade agreements with the countries of 
                 the Americas, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Free Trade In the Americas Act''.

SEC. 2. FINDINGS.

    The Congress makes the following findings:
            (1) The countries of the Western Hemisphere have enjoyed 
        more success in the peaceful conduct of their relations among 
        themselves during this century than have the countries on the 
        other continents of the world.
            (2) The economic prosperity of the United States and its 
        trading partners in the Western Hemisphere is increased by the 
        mutual reduction of trade barriers.
            (3) The successful establishment of a North American free 
        trade area will set the pattern for the promotion of the mutual 
        reduction of trade barriers with countries throughout the 
        Western Hemisphere, initiating a process of removing trade 
        barriers and enhancing prosperity instead of the cycle of 
        increasing trade barriers and deepening poverty likely to 
        result from a resort to protectionism and trade retaliation.
            (4) Trade protection endangers economic prosperity in the 
        United States and throughout the Western Hemisphere and 
        undermines civil liberty and constitutionally limited 
        government.
            (5) The reduction of government interference in the foreign 
        and domestic sectors of a nation's economy and the concomitant 
        promotion of economic opportunity and freedoms promote civil 
        liberty and constitutionally limited government.
            (6) Countries that observe a consistent policy of free 
        trade, the promotion of free enterprise and other economic 
        freedoms (including protection of private property), the 
        removal of barriers to foreign direct investment, in the 
        context of constitutionally limited government and minimal 
        interference in the economy, will follow the surest and most 
        effective prescription to alleviate poverty and provide for 
        economic, social, and political development.

SEC. 3. FREE TRADE AREAS FOR THE WESTERN HEMISPHERE.

    (a) General.--The President shall take action to initiate 
negotiations to obtain trade agreements with the sovereign countries 
located in the Western Hemisphere, the terms of which provide for the 
reduction and ultimate elimination of tariffs and other nontariff 
barriers to trade, for the purpose of promoting the eventual 
establishment of a free trade area for the entire Western Hemisphere.
    (b) Reciprocal Basis.--An agreement entered into under subsection 
(a) shall be reciprocal and provide mutual reductions in trade barriers 
to promote trade, economic growth, and employment.
    (c) Bilateral or Multilateral Basis.--Agreements may be entered 
into under subsection (a) on a bilateral basis with any foreign country 
described in that subsection or on a multilateral basis with all of 
such countries or any group of such countries.

SEC. 4. IMPLEMENTATION OF TRADE AGREEMENTS.

    The provisions of section 151 of the Trade Act of 1974 (19 U.S.C. 
2191) apply to implementing bills submitted with respect to trade 
agreements entered into pursuant to the provisions of this Act.

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