• Market access: The tariffs, which are taxes and fees on goods crossing borders, and nontariff barriers -- such as food or product safety rules. Customs procedures are also included. Negotiators establish a timetable to reduce tariffs gradually.
• Agriculture: Will cover agricultural tariffs, but Washington insists on negotiating farm subsidies in the World Trade Organization, since other industrialized countries also subsidize agriculture.
• Government procurement: These agreements would open government contracts and purchases to foreign companies. The easiest negotiations are over rules against corruption in letting contracts. Also proposed: ensuring that local rules do not discriminate against companies from other FTAA countries.
• Investment: New rules to guarantee and protect investment in foreign countries. Brazil wants this topic negotiated in the World Trade Organization.
• Competition policy: Targets laws, especially in developing countries, that might protect local industry from foreign competitors. Developing countries want flexibility here.
• Intellectual property rights: Strengthen protection for software, music, literature, medicine patents and potentially even life-forms.
• Services: Set timetables to liberalize trade in services -- legal, financial, insurance and medical. Brazil wants this to be negotiated in the World Trade Organization.
• Dispute settlement: Will set up rules for trade panels to settle trade disputes between countries, something like a world court of trade from which no country can opt out.
• Subsidies, antidumping and countervailing duties: Almost all countries have laws against dumping -- the sale of products below their cost of production, a form of international predatory pricing. Washington insists that these rules be negotiated in the World Trade Organization. Developing countries say such rules protect industries from competition.
FTAA GLOSSARY
• Civil society: The nongovernmental organizations involved in trade discussions
• Dumping: The selling of products in a foreign market below the cost of production
• Globalization: Integrating economically the populations of the world
• Integration: Combining different nations' economies
• North American Free Trade Agreement: The 1994 trade agreement among Canada, Mexico and the United States
• Safeguard measures: Application of duties when a surge of imports jeopardizes a domestic industry
• Secretariat: Headquarters of an organization
• Tariffs: Taxes and fees paid when goods cross borders
• World Trade Organization: It is based in Geneva and promotes, negotiates and regulates global commerce.
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