President signs CAFTA

President Bush today signed the Central America Free Trade Agreement (CAFTA), which Congress approved last week by a two-vote margin.

In his remarks at the signing, Bush said, "All of us in this room understand that to keep our economy growing and creating jobs, we need to open markets for American products overseas. All of us understand that strengthening our economic ties with our democratic neighbors is vital to America's economic and national security interests.

"Right now, Central American goods face almost no tariffs when they enter the U.S. By contrast, U.S. exports to Central America still face hefty tariffs there. CAFTA will end these unfair tariffs against American products and help ensure that free trade is fair trade."