FLORIDA EXPORTED $658 MILLION IN GOODS TO PERU LAST YEAR

Washington, Nov 8, 2007 - "Although I opposed NAFTA, Trade Promotion Authority for the President, and establishing Permanent Normal Trade Relations with China, this agreement will benefit Florida and our nation," said Rep. Cliff Stearns (R-Ocala). "When fully implemented, under the U.S.-Peru Trade Promotion Agreement 80 percent of our exports to Peru will be duty free. Florida is the seventh largest exporting state in the nation, with $658 million in exports to Peru last year. This agreement should strengthen our exports to Peru."

Stearns joined today in approving H.R. 3688, the U.S.-Peru Trade Promotion Agreement. The Agreement would eliminate duties on 80% of U.S. exports of consumer and industrial products to Peru, with an additional 7% of U.S. exports receiving duty-free treatment within five years of implementation, and the remaining tariffs would be eliminated ten years after implementation.

Explained Stearns, "Last year, 98% of Peru's exports to the United States entered duty-free. Because of high tariffs, our exporters do not have the same access to the Peruvian market. This agreement will break down those barriers. Even with this high tariff, in 2006 Florida exporters sent $209 million in farm products to Peru. By leveling the playing field, American exporters will receive a competitive boost."