Caribbean Basin Free Trade Agreements Act

TABLE OF CONTENTS:

Title I: Relationship of NAFTA Implementation to the

Operation of the Caribbean Basin Initiative

Title II: Caribbean Basin Free Trade Agreements

Caribbean Basin Free Trade Agreements Act - Title I: Relationship of NAFTA Implementation to the Operation of the Caribbean Basin Initiative - Amends the Caribbean Basin Economic Recovery Act (the Act) to accord certain textile and apparel articles and certain other articles from Caribbean beneficiary countries the same tariff and quota treatment accorded any such articles imported from Mexico under the North American Free Trade Agreement (NAFTA).

Directs the President to: (1) monitor the effects, if any, that implementation of NAFTA has on the access of beneficiary countries to U.S. markets for sugars, syrups, and molasses; and (2) take or propose, after consulting with interested parties and appropriate congressional committees, any actions necessary to ameliorate any adverse effects such implementation may have on them.

Title II: Caribbean Basin Free Trade Agreements - Directs the United States Trade Representative (USTR) to determine the feasibility of any beneficiary countries either: (1) acceding to NAFTA and any supplemental agreements pertaining to environmental, labor, and import issues; or (2) entering into bilateral or multilateral agreements with the United States that contain provisions comparable to those contained in NAFTA, or which will achieve the objectives of the Act or the Omnibus Trade and Competitiveness Act of 1988.

Authorizes the President to enter into trade agreements with beneficiary countries to provide for the elimination or reduction of any duty or trade barrier to, or other distortions to, trade with the United States. Requires the President to consult with the Congress before entering into such agreements.

Amends the Trade Act of 1974 to make congressional "fast track" procedures applicable to implementing bills submitted with respect to such trade agreements.