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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: maceng2 who wrote (1311)5/26/2002 12:27:33 AM
From: maceng2  Read Replies (1) of 1643
 
British trade 'will suffer over US congress clause'

British businesses will suffer if the US fails to resolve a dispute over granting President George Bush power to make international trade agreements, analysts say.

The Senate has voted in favour of a bill which would allow him to pursue a new global deal and a Free Trade Area of the Americas by 2005.

But it included an amendment that would enable Congress to reject any provisions of future agreements that might weaken US laws dealing with unfair trade.

The Bush administration said this would make it impossible to negotiate future trade deals, and has demanded it is dropped.

European trading partners have also criticised the amendment, claiming it is evidence of a US slide into protectionism following actions to protect the steel industries and to boost agricultural subsidies.

ananova.com
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