March 4, 2005: Chavez Says US-Sponsored Trade Agreement Is Dead

Venezuelan President Hugo Chavez declares that the US-sponsored project, the Free Trade Agreement for the Americas (FTAA), is dead. Chavez says that a new model will be put in place to increase trade between Venezuela, Argentina, and Brazil regardless of the US government’s position. Chavez says that eventually a new organization similar to NATO will be established for the countries of South America. [VHeadline, 3/4/2005]