Thursday, July 28, 2005

Central American Free Trade Agreement is Approved

The U.S. House of Representatives late last night approved the implementing legislation for the Central American – Dominican Republic Free Trade Agreement (CAFTA-DR). The vote was 217 to 215.

The extraordinarily close vote is a major legislative victory for the Bush Administration, and for the trade agenda as a whole. Defeat of the CAFTA-DR might well have meant a cessation of future trade agreements, including the other bilateral free trade agreements in the negotiations pipeline such as the Thailand and Andean FTAs, and the multilateral talks such as the Doha Round of WTO negotiations and the continuing negotiations on a Free Trade Agreement of the Americas.