Last week in Miami Chile and United States representatives signed a free trade pact that is seen by many as a first step towards the possible ratification of the controversial Free Trade Area of the Americas (FTAA). The accord, finalized Monday and signed by U.S. trade representative Robert B. Zoellick and Chilean foreign minister Soledad Alvear, will lower tariffs by as much as 85% on all goods. Implementation of the agreement depends on legislative approval in both countries. Free trade advocates argue that these reciprocal agreements benefit all economies, promote democracy, and spur development. Critics reply that free trade policies only lead to increasing impoverishment in the global south, impede indigenous sovereignty, and contribute to weakened regulations and environmental degradation. The upcoming Summit of the Americas in Miami (November 19-21) is the next phase in the potential realization of the FTAA. For more information on the Miami summit, see the “Declaration of Principles” of the summit (http://www.ftaa-alca.org/ministerials/miami_e.asp) and the home page of the counter-mobilization, http://stopftaa.org/.
