Trade Blocked

A foreign economic policy that emphasizes regionalism and stresses Latin America will have at least three negative consequences.

Issue: Fall 1996

In December 1994, just before Mexico's financial collapse, Bill Clinton convened the "Summit of the Americas" in Miami. It was attended by the leaders of all thirty-four Western hemisphere nations--except Castro, who was not invited--and it ended with a call to establish a "Free Trade Area of the Americas" by the year 2005. As a down payment, Mr. Clinton said NAFTA would soon be expanded to include Chile--repeating an offer made by George Bush in 1992, who in 1990 had introduced the idea of a Western hemisphere free trade area, "stretching from the port of Anchorage to Tierra del Fuego."

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