Bush Signs Controversial CAFTA Bill

President Bush signed a free trade pact with five Central American nations and the Dominican Republic today.  He says the bill will "advance peace and prosperity throughout the region."

"CAFTA is more than a trade bill," Bush said.  One he says will help strengthen fragile young democracies in Latin America -- and show those countries that the United States would stand by their side.

The agreement, with Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and the Dominican Republic, removes trade barriers and opens up the region to U.S. goods and services. It also takes steps to facilitate investment in the area and strengthens protections for intellectual property.