On August 2, 2005, President Bush signed legislation to implement the Dominican Republic - Central American Free Trade Agreement (DR-CAFTA). This followed the vote the previous week by the House of Representatives to approve the DR-CAFTA legislation. The Senate had passed the bill on June 30. The Congresses of El Salvador, Honduras and Guatemala had previously approved DR-CAFTA.
When implemented, more than 80 percent of U.S. exports of consumer and industrial products will be duty-free immediately. In addition to tariff reductions, the agreement expands market access across all sectors, provides new protections for U.S. investors in the region, and has strong provisions for trademarks, copyrights, and patents. The agreement also includes provisions that address worker rights, protection of the environment, trade capacity building and dispute settlement.
For more information on the agreement please consult the links below:
DEPARTMENT OF COMMERCE CAFTA-DR WEBSITE
OFFICE OF THE U.S. TRADE REPRESTATIVE CAFTA-DR WEBSITE