by Jeffrey J. Schott, The Institute for International Economics, August 2001

Negotiations on a Free Trade Area of the Americas (FTAA) were officially launched at the Santiago Summit in April 1998. This study examines the prospects for the FTAA in light of recent economic and political turmoil in Latin America and the continuing impasse over US "fast-track" authority.

The study evaluates progress to date in the trade talks and proposals for accelerating the target date of January 2005 for concluding negotiations, and it takes into account the results of the April 2001 Quebec Summit.

It surveys regional interests in the wide-ranging negotiating agenda and assesses the "readiness" of countries to participate in a hemisphere-wide free trade zone.

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About Jeffrey J. Schott:

Jeffrey J. Schott joined the Peterson Institute for International Economics in 1983 and is a senior fellow working on international trade policy and economic sanctions. During his tenure at the Institute, Schott was also a visiting lecturer at Princeton University (1994) and an adjunct professor at Georgetown University (1986–88).

He was a senior associate at the Carnegie Endowment for International Peace (1982–83) and an official of the US Treasury Department (1974–82) in international trade and energy policy. During the Tokyo Round of multilateral trade negotiations, he was a member of the US delegation that negotiated the GATT Subsidies Code. Since January 2003, he has been a member of the Trade and Environment Policy Advisory Committee of the US government.

Schott is the author, coauthor, or editor of several books on trade, including Trade Relations Between Colombia and the United States (2006), NAFTA Revisited: Achievements and Challenges (2005), Free Trade Agreements: US Strategies and Priorities (2004), Prospects for Free Trade in the Americas (2001), Free Trade between Korea and the United States? (2001), NAFTA and the Environment: Seven Years Later (2000), The WTO After Seattle (2000), Restarting Fast Track (1998), The World Trading System: Challenges Ahead (December 1996), The Uruguay Round: An Assessment (1994), Western Hemisphere Economic Integration (1994), NAFTA: An Assessment (1993), North American Free Trade: Issues and Recommendations (1992), Economic Sanctions Reconsidered: History and Current Policy (second edition, 1990), Completing the Uruguay Round (1990), Free Trade Areas and U.S. Trade Policy (1989), and The Canada-United States Free Trade Agreement: The Global Impact (1988), as well as numerous articles on US trade policy and the GATT.

Schott holds a BA degree magna cum laude from Washington University, St. Louis (1971), and an MA degree with distinction in international relations from the School of Advanced International Studies of Johns Hopkins University (1973).

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