The US Treasury proposes additional tariffs of up to 100% on Nicaragua
- proposes restricting CAFTA-DR benefits to Nicaragua
- Nicaragua actions burden or restrict US Commerce
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You are maybe asking what CAFTA-DR is ... if so, read on!
CAFTA-DR stands for the Dominican Republic-Central America Free Trade Agreement. It is a free trade agreement (FTA) between the United States and a group of six countries:
Costa Rica
El Salvador
Guatemala
Honduras
Nicaragua
The Dominican Republic
The agreement, which went into effect for Nicaragua in April 2006, was designed to eliminate tariffs, reduce trade barriers, and create a more integrated and stable economic environment.
