What will something like this do to a country like say Belize that is in the area but not in on the agreement?
In a nutshell, Belize's exports to the U.S. will be placed at a competitive disadvantage to the CAFTA countries that have ratified the agreement.
Ah, but wait . . . I typed too quickly. Belize is a member country of the Carribean Basin Initiative (I forgot to check), so essentially the CAFTA countries’ exports to the U.S. are now (or will be, depending) treated equally as Belize’s exports to the U.S.