May 31, 2004

CAFTA

good news on the free-trade front

....The United States has signed a trade agreement with five Central American countries. The five are Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. Trade ministers from the six countries signed the agreement in a ceremony Friday at the Washington headquarters of the Organization of American States. The new treaty is known as the Central America Free Trade Agreement, or CAFTA....

...The Central America Free Trade Agreement is similar to NAFTA. It would bring the Bush administration one step closer to its goal of creating a free trade area. The area would include every country in the western half of the world, except Cuba. The Bush administration is hoping to reach an agreement on the Free Trade Area of the Americas by January two-thousand-five. CAFTA would end taxes on more than eighty-percent of industrial and other goods exported from the United States to Central America. It also would cut taxes on more than fifty-percent of American farm products to Central America. Taxes on most other goods also would be ended over time...


Posted by John Weidner at May 31, 2004 8:56 PM
Weblog by John Weidner