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NEWS RELEASE 01-140; November 23, 2001 November 23, 2001
News Release 01-140
Inv. No. 332-434

ITC LAUNCHES INVESTIGATION ON U.S.-CHILE FREE TRADE AGREEMENT; SEEKS WRITTEN INPUT FROM INTERESTED PARTIES

The U.S. International Trade Commission (ITC) is seeking input for a newly initiated investigation into the economywide effects of a U.S.-Chile Free Trade Agreement.

The ITC, an independent, nonpartisan, factfinding federal agency, will conduct the investigation for the U.S. Trade Representative (USTR). The USTR requested the investigation, U.S.-Chile Free Trade Agreement: Potential Economywide and Selected Sectoral Effects (Investigation No. 332-434), in a letter received on November 13, 2001.

As requested by the USTR, the ITC will provide a concise description of the Chilean economy, patterns of trade with the United States and other major trade partners, and the tariff and investment relationship between the United States and Chile; a quantitative analysis of the likely trade and economywide economic impacts of a United States-Chile FTA by sector; a supplementary qualitative analysis of the impact of a U.S.-Chile FTA on product sectors identified by USTR; and a discussion of potential trade and economic effects of the elimination of barriers to trade in services under a United States-Chile FTA.

The ITC will submit its confidential report to USTR by January 17, 2002.

The ITC will not hold a public hearing in connection with this investigation. However, the ITC welcomes written submissions for the record in this investigation. Written statements (one original and 14 copies) should be submitted at the earliest practical date but no later than December 12, 2001. All written submissions, except for confidential business information, will be available for public inspection. Written submissions should be addressed to the Secretary, United States International Trade Commission, 500 E Street SW, Washington, DC 20436.

ITC general factfinding investigations, such as this one, cover matters related to tariffs or trade and are generally conducted at the request of the U.S. Trade Representative, the Senate Committee on Finance, or the House Committee on Ways and Means. The resulting reports convey the Commission's objective findings and independent analyses on the subjects investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the ITC submits its findings and analyses to the requester. General factfinding investigation reports are subsequently released to the public, unless (like this one) they are classified by the requester for national security reasons.

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