| Growth, Hope, and Opportunity | Why Support the Trade Promotion Agreements
with Peru, Colombia and Panama?
GROWTH: Capitalizing on an already robust partnership
- U.S. trade with Peru, Colombia, and Panama has nearly doubled over the past four years, with two-way commerce reaching $27.9 billion in 2006.
- U.S. imports support two million jobs in these countries, allowing workers in Peru, Colombia, and Panama to join the formal economy.
HOPE: Supporting friends and allies in a region at risk
- The agreements will enhance U.S. efforts to strengthen democracy in Latin America and lend support for the rule of law, investor protections, intellectual property, internationally recognized workers’ rights, and transparency and accountability in business and government.
- They provide local citizens with long-term alternatives to narcotics trafficking or illegal immigration.
OPPORTUNITY: Leveling the playing field for U.S. workers and farmers
- More than 90% of all imports from these countries already enter the U.S. marketplace duty-free.
- While they enjoy nearly free access to our market, U.S. exports to these markets face average tariffs in the 10-12% range.
- These trade agreements will fix this imbalance by eliminating most tariffs immediately upon entry-into-force.
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|  | |  | | Did you know?
| | | Four-fifths of U.S. consumer and industrial products and most U.S. farm exports will enter Peru, Colombia, and Panama duty-free immediately upon implementation of the agreements.
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| | | | Overheard
| | | ''Thanks to lower tariffs and the removal of other barriers, 52 percent of our total exports go to our free trade partners. What is more, our exports to the four free trade agreement partners implemented under this Administration...are growing twice as fast as our trade with countries with which we do not have free trade agreements.''
Susan Schwab, U.S. Trade Representative, 05/16/06
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