WASHINGTON — The U.S.-Colombia Trade Promotion Agreement entered into force on May 15, providing duty-free access on more than half of the agricultural exports that U.S. farmers ship to Colombia.
The International Trade Commission has estimated that the total tariff reductions in the agreement will expand exports of U.S. goods alone by more than $1.1 billion. The ITC also projected that the agreement will increase U.S. Gross Domestic Product (GNP) by $2.5 billion.
U.S. Trade Representative Ron Kirk said the "historic" U.S.-Colombia agreement "brings benefits to businesses of every size. . .
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