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U.S. Chamber of Commerce Details Success Record of CAFTA-DR Agreement

Thursday, August 13, 2015

(North American Meat Institute)

The U.S. Chamber of Commerce published a blog post highlighting the economic benefits of the Dominican Republic-Central America-U.S. Free Trade Agreement (CAFTA-DR) in the 10 years since implementation. The post notes that the CAFTA-DR has led to an elimination of tariffs on U.S. consumer and industrial good exports, and states that tariffs on nearly all U.S. agricultural products will be phased out by 2020. U.S. goods exports to the CAFTA-DR region rose by 84 percent from 2005 to 2014, with total meat exports surpassing $400 million in 2014. During the 2005-2014 period, U.S. exports of pork, poultry and frozen and fresh beef expanded by 579 percent, 201 percent, 895 percent and 691 percent, respectively. Further, the Chamber post reveals that U.S. exports to the CAFTA-DR market support approximately 175,000 American jobs, which excludes jobs directly and indirectly supported by imports. In addition to the U.S., the seven-nation agreement includes Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and the Dominican Republic.

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