On Tuesday, President Bush signed the Central American Free Trade Agreement bill, or CAFTA.

The bill had passed Congress by a narrow margin.

This agreement between Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and the Dominican Republic will create a free trade zone similar to the one created by the North American Free Trade Agreement, or NAFTA.

Tariffs on 80 percent of U.S. exports to the participating countries will be eliminated right away, and the rest during the next decade.

Proponents of CAFTA say it will help the U.S. by opening up new markets.

For example, Bush claimed it will help American workers, farmers and small businesses by leveling the playing field in those markets for their goods.

An important question is whether or not the same will apply to the other countries.

In the long run, perhaps protectionism is not the right course for the U.S. economy in an increasingly globalized world.

In theory, an increase in trade, fostered by lowered restrictions, would be beneficial for all countries involved - more money, less problems.

Many countries in the Americas definitely need this economic boost.

Nevertheless, there are many negative aspects that go along with pushing forward with CAFTA so hastily.

The benefits of free trade must be weighed against the negative impact of pumping money into governments and businesses in Central America, which sometimes doesn't do enough to protect workers and the environment.

One such example are the maquiladoras in Mexican border towns.

These factories import materials and equipment on a duty- and tariff-free basis and export all of their products from Mexico.

The many labor rights problems resulting from these maquiladoras is just one example of the dangers of mixing free trade with poor labor rights law enforcement.

Although the economy is global, governments are not.

Opponents of CAFTA find it disturbing that CAFTA offers little guarantee that business will be conducted fairly, considering the previous record of the participating countries.

Another concern is that jobs will be lost in the U.S. to foreign workers - something which definitely wouldn't help our economy.

It would be easier to ignore these possible losses if the workers in the other CAFTA countries were treated fairly.

This might not be the case if U.S. corporations aren't kept in check and are allowed to exploit Central American workers.

If the dangers to the environment and worker's rights posed by CAFTA are valid and real, the agreement seems hard to justify.