Our take: Over 80 percent of U.S. exports of consumer and industrial products to Colombia will become duty free immediately, with remaining tariffs phased out over 10 years. The U.S.–Colombia Trade Promotion Agreement (TPA) will support more American jobs, increase U.S. exports, and enhance U.S. competitiveness.
|Business Week, Huffington Post, Miami Herald (AP) News and video by Julie Pace 04/15/12|
|President Barack Obama is praising the free trade agreement between the United States and Colombia, saying it includes protections for workers and the environment that will serve as a “win” for both countries. Obama and Colombian President Juan Manuel Santos said at a joint news conference that the trade deal will go into effect May 15. The U.S. and Colombia agreed to the trade deal last year. But implementation of the pact was contingent on Colombia enacting reforms to protect unions. Obama says it will support “thousands of U.S. jobs” and give Colombia a market for exports. He says it will be a win for workers and the environment because there are “strong protections.” Obama says those are “commitments that we are going to fulfill.”|