04 December 2007 21:47 [Source: ICIS news]
The Senate approved the trade deal in an unusally favourable 77-18 vote with five senators not voting. The House approved the measure on 8 November with an equally strong bipartisan vote of 285-132.
President George Bush hailed the Senate action, saying congressional approval of the trade agreement “will level the playing field for American exporters and investors and will expand an important market in this hemisphere for US goods and services”.
Bush, who is expected to sign the trade agreement later this week, said the deal with
The trade deal essentially will end Peruvian duties and tariffs on a wide range of
Peruvian tariffs and duties on US exports range from 15-20% on industrial goods to 160% on agricultural products.
Peruvian exports to the
All four deals are expected to increase US exports of chemicals, plastics and derivative products, according to the office of the US Trade Representative (USTR).
($1 = €0.68)
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