House passes CAFTA

The U.S. House of Representatives narrowly approved the U.S.-Central American Free Trade Agreement (CAFTA) (HR 3045) early today by a 217-215 vote. Only 15 of the House's 202 democrats supported CAFTA, and 27 Republicans opposed it. The Senate approved the agreement last month.

After the vote, President Bush said he looked forward to signing the bill, which eliminates tariffs on U.S. exports to Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic. It also locks in and expands the duty-free access those countries already have to the U.S. market.

President Bush said, "The agreement is more than a trade bill. It is a commitment of freedom-loving nations to advance peace and prosperity throughout the Western Hemisphere."

The National Association of Manufacturers (NAM), an organization that worked hard for a CAFTA win, cheered the House passage, calling it "a big win for the U. S., for Central America, and for the world."