The AFL-CIO also claims that in many developing countries, free trade has led to total environmental destruction and widened the income gap between the world`s richest and poorest citizens. (9) The specific provisions of the Agreement which have been the subject of controversy, such as temporary visas, the integrated purchase initiative, chewing gum and capital controls, will be examined later in this report. A free-form statement of support may be used as an alternative to the presentation of the Certificate of Origin by Singaporean producers and exporters as well as by US importers if they certify that their products meet the requirements of the Singapore Free Trade Agreement. Regarding the impact of trade with Singapore on the U.S. economy, a group of analysts quantified the social impact of the free trade agreement on the United States with 0.19 percent of GNP, or about $18 billion. (46) Over the past three years, the USA has had trade surpluses with Singapore. The net macroeconomic effect on the United States The use of this trade is therefore generally positive, although bilateral trade balances have little impact on the United States as a whole. . . .
September 21, 2021