U.S., Colombia Reach Trade Deal

April 6, 2011 09:43 PM
 

Source: National Cattlemen's Beef Association

The long-awaited trade agreement with Colombia gained momentum yesterday, April 6, 2011, as President Obama announced an agreement has been reached. The agreement will now be sent to Congress to ratify.

NCBA President Bill Donald said with 96% of the global population living outside of the United States, it is essential to take aggressive measures to enable trade and expand market access for U.S. agriculture in order to stimulate the economy and, more importantly, feed a growing global population.

The Colombia Trade Promotion Agreement (TPA) was signed by the U.S. Trade Representative and the Colombian trade minister on Nov. 22, 2006. The provisions regarding U.S. beef in the agreement announced today are identical to the agreement signed more than four years ago. If the agreement is ratified by Congress, Colombia would open its markets to all U.S. beef and beef products and would immediately eliminate the 80 percent tariff on prime and choice cuts. According to Colin Woodall, NCBA vice president of government affairs, the Colombia TPA is one of the best negotiated free trade agreements to-date. Woodall said he is confident the agreement will be ratified.

Donald said the U.S., Colombia agreement represents U.S. agricultural export gains of more than $815 million per year at full implementation.  

Back to news


 

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close