| Cafta Passes |
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| Thursday, 04 August 2005 | |
Highly controversial Cafta Agreement is signed into law.Quoting Edmund L. Andrews in The New York Times, "Trade agreements have almost always been difficult to pass, because any reduction in barriers provokes intense opposition from unions and industries that would face new competition...In economic terms, the Central American trade pact will have a negligible impact on the United States. About 80 percent of the exports from those countries to the United States were already duty-free, and the total trade volumes are tiny: American exports to the six countries - about $17 billion a year - are about equal to the annual global exports of New Jersey." ![]() Juan Carlos Pereira Juan Carlos' interview is here. The full text of Andrews' NYT article "How Cafta Passed the House by 2 Votes" (Note: a free member subscription to the online edition of The New York Times is required) |
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