Annotations for Subject-headings: Tariff

The North American Free Trade Agreement is now official. Patricia Guadalupe attended the signing ceremonies in Washington.

[Background--natural sound--music] Over 100 supporters, including members of Congress and business and labor leaders came to see President Clinton sign the hotly contested treaty. This pact creates the world's largest market with over 300 million potential consumers. President Bill Clinton.

We are on the verge of a global economic expansion that is sparked by the fact that the United States at this critical moment decided that we would compete, not retreat.

Latino analysts says the Hispanic community, particularly Hispanic-owned businesses, will benefit greatly from NAFTA and the President's emphasis on global expansion. Among those analysts is Raul Yzaguirre of the National Council of La Raza.

If we get our act together, if we do some very specific things, I think we can benefit by increased business and increased employment.

Yzaguirre added that the specific thing he wants to see is Hispanics uniting to make sure that the community now receives the funds it was promised to develop projects along the border with Mexico through the North American Development Bank. This unity was not evident during the vote in Congress, however, with almost all Mexican American representatives voting for NAFTA , and Puerto Rican and Cuban American members voting against it citing fear of loss of jobs and Mexico's friendly relations with Cuba.

Some speculate this has created divisions within the Hispanic caucus, and will affect work on other pieces of legislation. Democratic representative, Kika de la Garza of Texas disagrees.

From this day, like any other piece of legislation, you finish one piece of legislation, you go on to the other. I don't see any connection. I don't see any problems for the President or in the Congress.

The North American Free Trade Agreement will be enacted on January 1st, gradually eliminating tariffs and other trade barriers over the next 15 years. For Latino USA, I'm Patricia Guadalupe in Washington.