The proposal covers about 65% of U.S. imports of consumer and industrial goods from the Hemisphere (not already covered by NAFTA). They would be duty-free immediately upon effectiveness of FTAA, with all duties on consumer and industrial products eliminated by 2015. Immediate elimination of tariffs was offered on a reciprocal basis in various key sectors, including construction equipment and steel. The U.S. is also pursuing its aggressive strategy of global trade liberalization through bilateral agreements.
Plenty of manufacturers in our industry have been victimized by illegal dumping, knockoffs and other trade shenanigans. Last year's tariffs on imported steel are widely regarded as an imperfect remedy, but almost no one thinks they were unwarranted. Several American companies have filed complaints or lawsuits against foreign producers and distributors of pipe fittings. It's a fact of life that the U.S. serves as the Third World's safety valve for lousy home economies.