CAFTA: A Refresher

By June 30, 2005Dobbs Watch

Dobbs WatchOK gang, on the eve of the CAFTA vote, time to have a little refresher on some of the things we’ve covered on CAFTA thus far. In the posting entitled, “CAFTA, Fact vs. Fiction“, you’ll find some facts not often cited by Lou Dobbs and his friends Smoot and Hawley. Among these are that over 15,000 manufacturers — the vast majority of them small — now export into CAFTA countries. In fact, more companies export into CAFTA countries than into China. At the moment CAFTA takes effect, some 80% of all US exports into the region will be duty-free, causing the export number to climb. Isn’t that what we want?

If you read “CAFTA, By the Numbers“, you’ll see some state-by-state data, showing the impact of the oft-reviled NAFTA, which of course turned out to be a great shot in the arm to exports. Who knew? We did. CAFTA will have the same effect.

Finally, on “The End of the World is Near“, we cite a Washington Post editorial in turn citing a University of Michigan study that showed that US income would rise by $17 billion if CAFTA passes. That’s an impressive number by any standard.

Last but not least, let us remind you all that trade-intensive industries pay an average annual compensation of $60,000 per year, almost 40% higher than the least trade-intensive industries.

The Chicken Littles were wrong about NAFTA and they’re wrong about CAFTA. Please urge your Senator to support it, unleash the full power of US manufacturing throughout the CAFTA region.