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House Passes U.S.-Peru Trade Pact

National Association of Manufacturers supports bill that aims to even trade between the two countries; Peruvian goods enter the U.S. duty-free while U.S. goods to Peru have a tariff.

WASHINGTON, D.C. — The House of Representatives passed the U.S.-Peru Trade Promotion Authority Act by a vote of 285 to 132, a move the National Association of Manufacturers praises.
While nearly all of Peru’s exports enter U.S. markets duty-free, American goods exported to Peru are charged, on average, a 12 percent tariff.  Today’s vote moves American manufacturers one step closer to a level playing field by removing existing barriers to U.S. exports to Peru.
The NAM-supported bill was a key manufacturing vote for the association.
“Manufactured goods make up two-thirds of America’s exports, and every new trade agreement we pass ensures increased market access and job creation for America’s manufacturers. The strong bipartisan support for this vote today shows that Congress is fully aware of the economic benefits of free and open trade,” said Jay Timmons, NAM senior vice president for policy.
He thanked the House leadership for working to ensure the trade agreement reached the House floor and said the bill benefited from today’s strong vote of support.
“Having taken this important step today toward leveling the playing field for U.S. exports, I urge members of the Senate to stand with the more than 6,000 American manufacturers that export to Peru and ratify this agreement without delay,” Timmons said.