§3555 Objectives for Extended Negotiations

Summary

Seek commitments from many important countries to cut or remove rules that block or limit financial services. This includes rules that keep foreign firms from being treated the same as local firms or from setting up and operating. The United States will offer to give equal treatment and market access in each financial services area only if others make these commitments, and it will do so under normal trade relations rules. For basic telecommunications, the goal is to open foreign markets on fair, nondiscriminatory terms by allowing companies to build their own networks or by allowing resale on existing networks. For civil aircraft, the United States wants export chances abroad that match what foreign planes get here. It seeks cuts or removals of specific tariffs and other trade barriers, including by widening membership in existing aircraft trade agreements. The U.S. also wants strong controls on subsidies under the WTO subsidy rules, to keep the same coverage of indirect government support as in the U.S.–E.C. deal, and to get clearer disclosure of foreign subsidy programs plus stronger financial reporting from companies that receive help, similar to U.S. securities rules. Definitions: civil aircraft — products covered by the Agreement on Trade in Civil Aircraft; large civil aircraft — as defined in Annex II of the U.S.–E.C. agreement; indirect support — as defined in Annex II of that agreement; Agreement on Trade in Civil Aircraft — the agreement Congress approved; U.S.–E.C. bilateral agreement — the U.S.–European Community deal on large civil aircraft entered into on July 17, 1992.