Daily News Update, Dec. 21, 2007

President signs Peru agreement

President Bush and Peruvian President Alan Garcia signed the Peru Trade Promotion Agreement (PTPA) Dec. 14.

For U.S. cattle producers, the PTPA serves as a model trade agreement by eliminating duties on high quality beef, providing duty-free tariff rate quotas on standard beef cuts, implementing import measures consistent with World Organization for Animal Health  guidelines, recognizing the U.S. beef inspection system as equivalent, and breaking down pre-existing Sanitary and Phytosanitary and technical barriers.

NCBA now looks to Congress to pass pending agreements with Colombia and Panama, which could prove to be equally beneficial for U.S. cattle producers.

In his remarks last Friday, President Bush said, "I urge members of Congress to continue on this path as they consider agreements with two other important partners in the region: Colombia and Panama…It is vital that Congress send a strong message that the United States of America is committed to advancing freedom and prosperity in our neighborhood and approve these agreements with strong, bipartisan majorities."