The US-Central America Free Trade Agreement (CAFTA) has been signed by all participants, which includes the U.S., Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. While the signing ceremonies ended the regional negotiations, CAFTA must pass the congresses of the participating countries before becoming law.

The Trade Promotion Authority (TPA) which grants the President authority to negotiate trade agreements, requires that the President submit to Congress any necessary changes to U.S. law within 60 days, or by July 27.

In addition, the International trade Commission must submit to the President and congress a report citing the impact CAFTA may have on the overall U.S. economy and specific industries. This report must be submitted by August 26. Some footwear is imported from these countries, and the new agreement may make it easier and less expensive to export to the U.S.

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