The Desert Sun, CA
The Central American Trade Pact may be on the verge of unraveling. With global trade expansion the centerpiece of President Bush’s second term economic agenda, the already consummated Central American Free Trade Agreement needed only Congressional approval to be finalized.
Including Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and the Dominican Republic, the agreement’s passage would be the most important step after NAFTA, the Free Trade agreement between the U.S., Canada, and Mexico, passed in 1993.
CAFTA, as it has become commonly known, was also intended to lead toward the eventual Western Hemisphere Free Trade Authority in 2005. The Bush Administration has widely touted Hemispheric Free Trade as its most ambitious economic objective for the President’s second term.
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