US Senate passes Cafta trade deal
AFP, Washington
The US Senate approved a controversial free trade pact with Central America and the Dominican Republic by a close 54-45 vote, with a battle likely at its next stage in the House of Representatives. The Dominican Republic-Central American Free Trade Agreement is likely to go before the full House after the July 4 recess. The key test in the Senate came after the House Ways and Means Committee voted 24-11 earlier in the day, largely along party lines, legislation to implement the trade pact with the Dominican Republic, Nicaragua, El Salvador, Honduras, Costa Rica and Guatemala. The pact would eventually eliminate most tariffs on the roughly 30 billion dollars in goods traded annually between the United States and the participating nations. President George W. Bush, expressing appreciation for "bipartisan support" over the bill, said the Cafta-dr agreement was "good" for American workers, farmers and small businesses. "When passed it will eliminate trade barriers immediately on 80 percent of US-made goods and the rest within a few years, which will help increase sales abroad and job creation at home. "The agreement is also a strong boost for young democracies in our own hemisphere, whose success is important for America's national security and for reducing illegal immigration," President Bush said.
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