Mike Levin: “I opposed fast track because we should not limit the ability of Congress to improve trade agreements which may not, as…”

“I opposed fast track because we should not limit the ability of Congress to improve trade agreements which may not, as some in the past have not, represent the best interest of the American worker, American farmer, or U.S. industry. Although the U.S. International Trade Commission found the impact of a FTA with Chile and Singapore would be minimal on the U.S. economy, the U.S.-Chile and the U.S.-Singapore free-trade agreements are widely considered likely to lead to more open markets. Singapore's market is currently quite open with respect to consumer and industrial goods and imposes no tariffs on most of these products. Any remaining tariffs will be eliminated upon entry into force of the agreement. Chile's tariffs average 6 percent and they will be eliminated quickly in the agreement. For example, 85 percent of consumer and industrial goods trade becomes duty free immediately upon the entry into force of the U.S.-Chile FTA, with most of the remaining tariffs eliminated within 4 years. Of particular interest to U.S. auto makers is Chile's commitment to eliminate its domestic tax of 75 percent on luxury automobiles over 4 years.”