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To: allen v.w. who wrote (29480)	12/31/1999 2:37:00 PM
From: allen v.w.	Respond to of 40688

U.S. agency explores adding Britain to NAFTA December 31, 1999 -------------------------------------------------------------------------------- WASHINGTON, Dec 30 (Reuters) via NewsEdge Corporation - At the urging of lawmakers eager to boost transatlantic trade, the United States is reviewing an unlikely proposal to bring Britain into the North American Free Trade Agreement (NAFTA), officials said on Thursday. The U.S. International Trade Commission (ITC) said it would study the proposal to add Britain to the trade pact between the United States, Canada and Mexico and would submit its findings to Congress by Aug. 18, 2000. But few experts take the proposal seriously, with most saying it has little chance of advancing in Congress any time soon. The ITC, which evaluates trade issues for Congress and the White House, said it would review current trade relations between the United States, Canada, Mexico and Britain, and identify existing tariff and nontariff barriers to trade. The ITC will also assess the economic benefits that might come from adding Britain to NAFTA, as well as the impact on workers. "In estimating the effect of the elimination of barriers to trade and investment on the economies of the United States and the United Kingdom, the commission will conduct a comparative statistics analysis based on the most current data available on trade, investment, the barriers to these flows, and the trade and investment relationships between these countries and their other significant trading partners," the ITC said. The commission said it would hold a public hearing on expanding NAFTA on April 11, 2000. The ITC review was begun at the request of Senate Finance Committee Chairman William Roth, a Delaware Republican, and the committee's ranking Democrat, Daniel Patrick Moynihan of New York. "I have long believed that both the United States and Great Britain would benefit from freer trade between our two countries," said Senate Banking Committee Chairman Phil Gramm, a Texas Republican who backs Britain's inclusion in NAFTA. "We already have strong financial and historic ties; now it's time to further our relationship."