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CAFTA: FTAA stepping stone.(Insider Report)
On December 17, U.S. Trade Representative Robert B. Zoellick announced that the Bush administration had concluded a "cutting edge" Central American Free Trade Agreement (CAFTA) with El Salvador, Guatemala, Honduras and Nicaragua. "Step by step, country by country, region by region, the United States is opening markets with top-notch, comprehensive FTAs that set the standard," said Zoellick, referring to a bag full of trade agreements he has been crafting for the administration.
The battle to push CAFTA through Congress--which has been quietly underway for the past year--will formally commence in January, as soon as President Bush releases the text of the document and announces his intention to sign it. The administration and its pro-CAFTA corporate allies are claiming that it will provide an incredible boost to U.S. exports and jobs. Those are the same promises that accompanied previous FTAs, such as NAFTA and the WTO. The result has been a huge boost in imports and ever-higher trade deficits. Our main exports have been U.S. jobs and our market share and technological lead in virtually every industry.
A December 17 press release from ...
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Source: HighBeam Research, CAFTA: FTAA stepping stone.(Insider Report)