The U.S.-Central American and Dominican Republic Free Trade Agreement (CAFTA-DR) is "unambiguously a winner" for U.S. manufacturing, according to a new analysis by the National Association of Manufacturers (NAM).
The study says the agreement will level the playing field for U.S. exporters by providing the same open access to CAFTA-DR markets that these countries already have to the U.S. market. "CAFTA-DR will level the playing field for U.S. manufacturers, generate U.S. $1 billion of new U.S. manufacturing exports, save billions of dollars in existing exports, promote democracy and political stability, and improve the labor and environmental conditions in the region," said John Engler, president of the NAM.
"The NAM analysis concludes that CAFTA-DR will provide U.S. manufacturers $1 billion of additional manufactured goods exports, creating some 12,000 related job opportunities for American workers in the process," Mr. Engler continued. "But without the agreement, the U.S. stands to lose up to $4 billion in existing exports to CAFTA countries, affecting up to 48,000 U.S. jobs."
Mr. Engler said failure to approve CAFTA-DR would effectively shift business from Central America to Asia. "If these countries were to lose their apparel industry to Asia, particularly China, more than half a million people in the region would be put out of work," Mr. Engler said.
to Daily News