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Context of 'May 20, 2003: Senate Hearing Warns Mexico against Restrictions on US Goods'

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In preparation for the North American Free Trade Agreement (NAFTA), Mexico opens up its financial services to foreign ownership. By 2000, 85 percent of the banking system will be owned by foreign entities and lending to Mexican businesses will have dropped from 10 percent of the GDP to 0.3 percent. [Jones, 3/2007, pp. 3]

Entity Tags: Mexico

Timeline Tags: Neoliberalism and Globalization

The North American Free Trade Agreement Implementation Act (H.R. 3450) is voted on by the US House of Representatives and passes 234-200. [US Congress, 11/17/1993] It is later estimated that Congresspersons who voted in favor of H.R. 3450 received an average of $8,018 more in corporate PAC contributions than those who voted against. [Francia, 1/2001, pp. 98, 103]

Entity Tags: North American Free Trade Agreement, US Congress

Timeline Tags: Neoliberalism and Globalization

US President Bill Clinton signs the North American Free Trade Agreement (NAFTA), which he says will “tear down trade barriers between” the US, Canada, and Mexico. [US President, 12/8/1993]

Entity Tags: William Jefferson (“Bill”) Clinton, North American Free Trade Agreement

Timeline Tags: Neoliberalism and Globalization

Joseph P. Hoar, a retired Marine Corps general who commanded American forces in the Persian Gulf after the 1991 war, warns the Senate Foreign Relations Committee that the proposed invasion is both “risky” and possibly unnecessary. [New York Times, 8/1/2002]

Entity Tags: Joseph Hoar, Senate Foreign Relations Committee

Timeline Tags: Events Leading to Iraq Invasion

Senator Norm Coleman, chairman of the Foreign Relations Western Hemisphere subcommittee, holds a hearing in which he says that a “tough response” against Mexico would be “warranted” for “unilateral renegotiation of NAFTA.” Present at the hearing are Bush administration officials and leaders of agribusiness interest groups. Jim Quackenbush, board member of the National Pork Producers Council, complains of a Mexican anti-dumping case against US hog exports and claims his goods are often halted at the border for “alleged sanitary concerns.” He calls for the US to “use all available means” to keep Mexico’s market open to US agricultural goods. Allen Johnson, chief agriculture negotiator in the office of the US Trade Representative, says that the US will work to defend its interests and is ready to retaliate if Mexico does not accede to its demands. [US Congress, 5/20/2003 pdf file; Star Tribune, 5/21/2003]

Entity Tags: North American Free Trade Agreement, Senate Foreign Relations Committee

Timeline Tags: Neoliberalism and Globalization

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