Bush Speaks on CAFTA
June 23, 2005
President Bush spoke today on CAFTA after a meeting with "bipartisan leaders" to discuss the current state of the agreement. His comments echoed previous arguments made by the administration and the agreement's backers and offered nothing new:
This trade agreement benefits both sides. It's a good deal for the CAFTA countries and it's a good deal for America, as well. It's a good deal for America because CAFTA will help level the playing field for our goods and services. Under existing rules, nearly 80 percent of imports from Central America and the Dominican Republic already enter the United States duty free. But U.S. exports into the region face heavy tariffs. Let me repeat that: 80 percent of goods produced in Central America come into our country, come into the United States, duty free, yet the same isn't -- it's not the same for American products.
By passing CAFTA, the United States would open up a market of 44 million consumers for our farmers and small business people and entrepreneurs. By lowering barriers in key segments like textiles, CAFTA will put our region in a better position to compete with low-cost producers in Asia.