CAFTA being signed today

Did I hear that right?

Goldangit. I did.

http://news.yahoo.com/news?tmpl=story&u=/usnw/20040527/pl_usnw/oxfam__central_american_trade_bill_no_boon_for_the_poor__u_s__to_sign__cafta__trade_agreement112_xml

Oxfam: Central American Trade Bill No Boon for the Poor; U.S. to Sign 'CAFTA' Trade Agreement

Thu May 27,10:20 AM ET

To: National Desk
Contact: Lyndsay Cruz of Oxfam America, 202-460-0760

WASHINGTON, May 27 /U.S. Newswire/ -- On May 28, U.S. Trade Representative Robert Zoellick will join officials from Costa Rica, El Salvador (news - web sites), Guatemala, Honduras and Nicaragua to sign the Central American Free Trade Agreement (CAFTA). While officials from Central America and the US toast the fruits of negotiations, more than 15 million Central Americans who live on less than $2 per day have nothing to celebrate.

"Trade has an important role to play in helping developing countries achieve economic growth and poverty reduction. But CAFTA will only hinder, not help the poor benefit from trade," said Stephanie Weinberg, trade policy advisor at Oxfam. "Under CAFTA, millions of small farmers in Central America will be unable to compete with US subsidized rice, corn, and beans, all of which are staple crops in Central America.

Since NAFTA went into effect in 1994, 15 million Mexican corn farmers have faced enormous hardship due to the drop in corn prices by 70 percent. This was largely due to the dumping of subsidized corn on the Mexican market by large US agribusinesses. NAFTA was supposed to benefit Mexico, but today, half of the rural Mexican population lives in extreme poverty.

In addition to agriculture, CAFTA will also have significant negative consequences for public health. The agreement will require Central American governments to impose very stringent patent protection on the production of pharmaceuticals, putting at risk the ability to manufacture affordable generic medicines. New rules under CAFTA will strengthen the rights of patent holders, yet limit competition by generics producers, giving pharmaceutical companies a stranglehold on the drugs market.

(snip)

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For more information, please contact Lyndsay Cruz at 202-460-0760 or via email at lcruz@oxfamamerica.org

From what I've heard, all House Democrats are pretty much united against it because it contains absolutely ZERO labor or environmental protections. Also, many Republicans from textile, orange or sugar producing regions will likely vote against it out of fear of losing their jobs otherwise.

I was about to have an effing heart attack over here. Wondering how this could happen without a peep from the hill.

Bless you! Have a fantastic weekend!

:loveya:

:)

n/t