Singapore Us Free Trade Agreement


    Bush signed the United States Free Trade Agreement Implementation Act on September 3, 2003, which officially entered into force on January 1, 2004. [1] [2] The provisions of the Free Trade Agreement and the other provisions of the Free Trade Agreement have been criticized by the AFL-CIO. The agreement would likely lead to a deterioration in the trade balance, job losses, violated rights and insufficient economic development. (37) Negotiations on the FREE TRADE AGREEMENT between the United States and Singapore continued under the Clinton administration in December 2000 (4) and under the Administration of G.W. Bush. The free trade agreement was the fifth such agreement signed by the United States and the first with an Asian country. It continues the two governments` initiative to open markets abroad to exports and the activities of U.S. companies. The Clinton administration stressed that the United States has access to “emerging markets”; The Bush administration has emphasized the strategy of “competitive liberalization,” itself based on a general business philosophy that combines an international economic policy of free enterprise with U.S. foreign policy (especially the fight against terrorism) and its attempts to promote a vibrant and competitive U.S. economy through unregulated markets. Competitive liberalization means that the government follows trade liberalization on the global, regional and bilateral fronts. It thus attempts to create competition in liberalisation, in which countries willing to take the necessary steps to conclude a free trade agreement with the United States can do so.

    This will then create a contest in which others will follow or be abandoned. (5) Supporters of the free trade agreement between the United States and Singapore claim that the removal of trade barriers between the two countries will lead to an increase in exports. . . .