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LEGAL/REGULATORY NEWS
CAFTA missed implementation date
by Pete Hisey on 1/2/2006 for Meatingplace.com
None of the Central American countries that are part of the Central American Free Trade Agreement has written, rewritten, repealed or implemented the laws necessary for implementation of the trade pact, and it missed its implementation date of Jan. 1. A spokesman for the U.S. Trade Representative's office said the bitterly contested CAFTA will be delayed by at least a month, perhaps longer.
U.S. Democrats, who opposed the pact, pointed to the lack of movement by the Central American countries as evidence of a flawed policy. Of the six countries affected, all but Costa Rica have ratified the agreement, but none has taken any of the internal steps, including tariff removal, necessary for implementation.
Under the provisions of the pact, tariffs on U.S. pork and beef eventually would have been dropped altogether, a boon to the pork industry in particular. The poverty-stricken countries can't afford much U.S. beef, but there is a large market for pork variety meats in Latin American nations.
CAFTA missed implementation date
by Pete Hisey on 1/2/2006 for Meatingplace.com
None of the Central American countries that are part of the Central American Free Trade Agreement has written, rewritten, repealed or implemented the laws necessary for implementation of the trade pact, and it missed its implementation date of Jan. 1. A spokesman for the U.S. Trade Representative's office said the bitterly contested CAFTA will be delayed by at least a month, perhaps longer.
U.S. Democrats, who opposed the pact, pointed to the lack of movement by the Central American countries as evidence of a flawed policy. Of the six countries affected, all but Costa Rica have ratified the agreement, but none has taken any of the internal steps, including tariff removal, necessary for implementation.
Under the provisions of the pact, tariffs on U.S. pork and beef eventually would have been dropped altogether, a boon to the pork industry in particular. The poverty-stricken countries can't afford much U.S. beef, but there is a large market for pork variety meats in Latin American nations.