When Congress returns from spring recess, the Bush Administration is set to make a final push for passage of a the U.S.- Colombia free trade agreement. Last week, the White House put out a fact sheet on the deal including this paragraph on the benefits of the deal:
A U.S.-Colombia free trade agreement will bring economic gains for both countries. Over 90 percent of U.S. imports from Colombia now enter our country duty-free, but U.S. exports to Colombia face tariffs up to 35 percent. Once implemented, the agreement will eliminate tariffs on more than 80 percent of American exports of industrial and consumer goods immediately and 100 percent over time. This agreement will provide U.S. companies and farmers that export to Colombia with duty-free access to this large and growing market. The agreement will also make permanent Colombia’s preferential access to the U.S. market.