The Senate Finance Committee action gives an important symbolic victory to President Bush as he presses for congressional passage of the controversial trade pact with the Dominican Republic, Nicaragua, El Salvador, Honduras, Costa Rica and Guatemala, MarketWatch said.
The move, which clears the way for a full Senate vote, came despite the lack of a final deal designed to assuage the sugar industry's concerns that the pact will result in a significant spike in U.S. sugar imports.
U.S. Trade Representative Rob Portman hailed the committee vote as reflective of its broad support, saying the panel's action was proof of "strong bipartisan support" for CAFTA.
A House panel was set to vote on the treaty Thursday.
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