The Central America-Dominican Republic-United States
Free Trade Agreement, which was signed on August 5, 2004,
is designed to eliminate tariffs and trade barriers and
expand regional opportunities for the workers, manufacturers,
consumers, farmers, ranchers and service providers of
all the countries. CAFTA-DR will immediately eliminate
tariffs on more than 80 percent of U.S. exports of consumer
and industrial products, phasing out the rest over 10
years. Eighty percent of CAFTA-DR imports already enter
the United States duty free under the Caribbean Basin
Initiative, Generalized System of Preferences and Most
Favored Nation programs; the CAFTA-DR will provide reciprocal
access for U.S. products and services.
