U.s.-Chile Free Trade Agreement Summary

A summary of these issues can be found on the back of this report. Since the free trade agreement has been signed, this is the final version of the report. With the implementation of the U.S.-Chile Free Trade Agreement, Chile joined a select group of only five other countries that have a free trade agreement with the United States (Canada, Mexico, Jordan, Israel, and Singapore). Market access has been a key provision, with the negotiation of duty-free access for all products traded between the two countries. When the agreement enters into force on 1 January 2004, 87% of bilateral trade in consumer and industrial products will be immediately exempt from customs duties, with the rest receiving reduced customs treatment over time. About 75% of U.S. agricultural exports will arrive duty-free in Chile within four years and tariffs on all products will be fully disposed of within 12 years.

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