This is necessary before we rush to conclusions as to the interaction between bilateral, regional, and multilateral agreements, and the actual impact of any of these types of agreements on the U.S. economy. In this examination, we need to look not only at the number of agreements, but beyond sheer numbers to their contents, including the level and actual scope of trade covered by the agreements. Indeed, some may be vulnerable to challenge under Article XXIV of the GATT and similar WTO rules. We should give serious consideration to bringing challenges in appropriate cases. When it comes to the question of how to shape expanded trade as we enter into more trade agreements of our own, it is vital that we take account of the evolving nature and new issues of trade.
Trade policy is no longer just about tariffs and the more glaring non-tariff barriers.
These issues should be included in fast track and in the agreements negotiated pursuant to fast track. Finally, as I have said before, the best way to move ahead with agreements on expanded trade is to proceed step by step. The first step seems clear. There is a free trade agreement that was negotiated and signed last year and transmitted to Congress at the beginning of this session. I am referring, of course, to the U.S.-Jordan Free Trade Agreement.