The United States and Colombia have reached a free-trade agreement. The pact will eliminate duties on numerous products that the United States export to Colombia. Some of those products include beef, cotton, wheat, a variety of fruits, as well as many processed foods. Furthermore, reduced tariffs will occur on other goods, such as pork and dairy products.
USDA Secretary Mike Johanns points out that Colombia is "our second largest agricultural market in Latin America, currently accounting for $677 million in sales." Many Colombian products already enter the United States duty-free under terms of the Andean Trade Preference Act, Johanns notes.
He announced the new agreement on Monday.