Date: June 10, 2005
Creator: Ribando, Clare
Description: On August 5, 2004, the United States signed the U.S- Dominican Republic-Central America Free Trade Agreement (DR-CAFTA) with five Central American countries (Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua) and the Dominican Republic. DR-CAFTA could have a significant effect on U.S. relations with the region, primarily by establishing a permanent and reciprocal trade preference arrangement among the signatory countries. DR-CAFTA must now be ratified by each country’s legislature and approved by the U.S. Congress before taking effect.
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