Peru pact would boost exports
A proposed agreement to end trade tariffs between the U.S. and Peru would boost U.S. exports to Peru by $1.1 billion a year, a report by the U.S. International Trade Commission says.
Peru's exports to the U.S. would grow by a more modest $439 million a year, the report says, primarily because 97 percent of Peru's exports to the U.S. are already duty free.
Overall, the agreement would add about $2.1 billion to the U.S. economy, the report said.
Congress could vote on the proposed trade agreement as soon as July. The Bush administration supports the proposal, but some Democratic lawmakers want to renegotiate the pact to address labor rights, a Bloomberg News report noted.