Bill Clinton: “today the Senate votes on the Central American-Dominican Republic Free Trade Agreement. During my tenure as Senator, I…”

“today the Senate votes on the Central American-Dominican Republic Free Trade Agreement. During my tenure as Senator, I have voted for every trade agreement that has come before the Senate and I believe that properly negotiated trade agreements can increase living standards and foster openness and economic development for all parties. When DR-CAFTA negotiations began, I was eager to support an agreement. It was my sincere hope that President Bush would send an agreement to Congress that would help address the DR-CAFTA nations' development challenges and spread the gains from trade more broadly. Unfortunately, the Bush administration has not submitted such an agreement, instead missing a tremendous opportunity to conclude an agreement that strengthens the bonds between the United States and the DR-CAFTA nations. While this agreement provides some benefit for New York, I regretfully conclude the harm outweighs the good. I must therefore vote to oppose. My vote to oppose DR-CAFTA is one taken with great difficulty. I have heard strong arguments both for and against from many New Yorkers who have a stake in the agreement and I have weighed them seriously. Segments of the New York economy would benefit from this agreement, but at the end of the day, I cannot support an agreement that fails to include adequate labor standards and is a step backward in the development of bipartisan support for international trade.…”