Senate Passes Central American Free Trade Agreement
The U.S. Senate today passed the Central American Free Trade Agreement (CAFTA) by a vote of 54 to 45. U.S. Senator Chuck Hagel (R-NE) voted in favor of the agreement. The agreement creates new trade opportunities by lowering and eliminating tariffs on U.S. goods in Central American countries including the Dominican Republic, Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua.
"CAFTA is good for Nebraska. Passing CAFTA will further open new markets for Nebraska beef, corn, soybeans and other products. Already, 47,000 Nebraska jobs are supported by exports of farm products. CAFTA means more of these jobs across Nebraska and enhanced opportunities in Nebraska communities that desperately need them," Hagel said.
CAFTA is supported by over 50 agricultural industry and farm groups, including the Nebraska Farm Bureau and the Nebraska Corn Growers.
The trade agreement will now go to the House of Representatives for consideration.