Altered Fit.A TRADE BILL RECENTLY SIGNED into law by President Clinton carries a duty-free provision for Central American Central America A region of southern North America extending from the southern border of Mexico to the northern border of Colombia. It separates the Caribbean Sea from the Pacific Ocean and is linked to South America by the Isthmus of Panama. textiles bound for the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The law softens the advantage Mexican textile exports have enjoyed since the passage of the North American Free Trade Agreement North American Free Trade Agreement (NAFTA), accord establishing a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. . "If Caribbean trade develops at even half the growth of our exports to Mexico under the North American Free Trade Agreement, we will see major increases in our fabric and yarn shipments to the Caribbean," says American Textile Manufacturers Institute President Roger Chastain, who says U.S. producers export almost US$600 million in fabric, yarn and cut pieces to the Caribbean. Beginning Oct. 1, five Central American countries, the Dominican Republic Dominican Republic (dəmĭn`ĭkən), republic (2005 est. pop. 8,950,000), 18,700 sq mi (48,442 sq km), West Indies, on the eastern two thirds of the island of Hispaniola. The capital and largest city is Santo Domingo. and Jamaica may ship 250 million square meters of textiles into the United States duty free. The quota jumps 16% annually for the next three years. |
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