U.S. Commerce Secretary John Bryson made the following statement regarding the U.S.-Colombia Trade Promotion Agreement that enters into force today. Due to the agreement, 80 percent of U.S. exports of consumer and industrial products to Colombia are now duty-free, including agricultural and construction equipment, building products, aircraft and parts, fertilizers, information technology equipment, and medical scientific equipment. Additionally, more than half of the U.S. exports of agricultural commodities to Colombia are now duty-free, including wheat, barley, soybeans, high-quality beef, bacon and almost all fruit and vegetable products. According to the International Trade Commission, the agreement will lead to an increase in U.S. GDP of $2.5 billion.
“This is just the latest in this administration’s efforts to ensure that companies large and small have the support they need to build their products here and sell them everywhere.”
Source: U.S. Department of Commerce
