The investigation, The Impact on the U.S. Economy of Including the United Kingdom in a Free Trade Arrangement with the United States, Canada, and Mexico (Investigation No. 332-409), was requested by the U.S. Senate's Committee on Finance in a letter received November 18, 1999.

In its request letter, the Committee noted that it believes that lowering barriers to international commerce increases trade between nations and leads to increased economic prosperity and higher standards of living. The Committee further noted that in recent years, the U.S.-Canada Free Trade Agreement (CFTA) and the NAFTA have significantly helped expand the volume of trade between the United States and its North American trading partners. The Committee is seeking an analysis in order to determine whether the success of the CFTA and the NAFTA can be replicated with other trading partners.

As requested, the ITC will report on the following:

• the current economic relationship among the United States, Canada, Mexico, and the United Kingdom in terms of trade and investment flows, including a discussion of the key industries and comparative advantages of each country;
• all existing barriers (tariff and non-tariff) to trade and investment among the United States, Canada, Mexico, and the United Kingdom;
• for the United States and the United Kingdom, the estimated effect of eliminating these barriers on the volume of trade in goods and services; the Gross Domestic Product for each country resulting from increased trade and investment; employment across industry sectors, with special attention to changes in the competitive position of industries, job creation and loss, productivity, and wages; balance of payments for each country as a result of new trade patterns; amount of foreign direct investment between the two countries; and final prices paid by consumers in each country; and
• any increase in quality or selection of goods, or other consumer benefits.

The ITC will submit its report to the Committee no later than August 18, 2000.

The ITC is seeking information for its study from all interested parties. A public hearing will be held on April 11, 2000, in connection with the investigation. Requests to appear at the hearing should be filed no later than 5:15 p.m. on March 28, 2000, with the Secretary, U.S. International Trade Commission, 500 E Street, SW, Washington, DC 20436.

The ITC also welcomes written submissions for the record. Written submissions (one original and 14 copies) should be addressed to the Secretary at the address above and should be submitted at the earliest practical date but no later than 5:15 p.m. on May 4, 2000. All written submissions, except for confidential business information, will be available for public inspection.

Further information on the scope of the investigation and appropriate submissions is available in the ITC's notice of investigation, dated December 22, 1999, which may be obtained from the ITC Internet server (www.usitc.gov) or by contacting the Office of the Secretary at the above address or at 202-205-1802.