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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: benwood who wrote (31603)	6/6/2005 8:21:22 PM
From: mishedlo	Respond to of 116555

Bush pushes for trade agreement Monday, June 6, 2005 6:54:44 PM afxpress.com WASHINGTON (AFX) - President Bush argued Monday that the controversial Central America Free Trade Agreement would help advance democracy in the Western Hemisphere "An Americas linked by trade is less likely to be divided by resentment and false ideologies.?An Americas where all our people live in prosperity will be more peaceful," Bush said in a speech to foreign ministers attending an Organization of American States meeting in Fort Lauderdale, Fla. "And an Americas whose countries have reduced the barriers to trade among ourselves will be a more competitive region in a global economy." The Central America Free Trade Agreement, or Cafta, would include five Central American nations; El Salvador, Nicaragua, Honduras, Guatemala, Costa Rica. It also includes the Dominican Republic The U.S. signed the accord last year. But Congress must ratify the treaty for it to take effect. Republican leaders have delayed taking action on the accord as they have struggled to round up votes. Many Republicans from states with textile or sugar industries have indicated they would join Democrats in opposing Cafta Textile and sugar-state lawmakers contend the treaty will undermine those industries in the U.S. Democrats have argued that the pact offers insufficient labor and environmental protections. Republican congressional leaders have indicated they would attempt to begin action on the treaty in coming months Bush, in a news conference last week, pressed Congress to take action, describing the Cafta agreement as a key component of his second-term economic agenda He reiterated the call for congressional action in Monday's OAS speech "Cafta is more than just a trade agreement.? It is a signal of the U.S. commitment to democracy and prosperity for our neighbors -- and I urge the United States Congress to pass it," Bush said