Washington, D.C. - Today, the Ways and Means Committee unanimously approved the United States-Peru Trade Promotion Agreement, for which Congressman Kevin Brady (R-Texas) has strongly advocated.   The vote follows months of negotiation between Democrats and Republicans on how to move forward on trade policy.  

“This agreement will open up Peru’s market to Texas goods and services, which will support good-paying jobs in our state," said Congressman Brady. "In a larger sense it re-affirms America's long-term commitment to growth and prosperity in Latin America, our neighbors."  

Texas sells more goods to Peru than any other state in the nation – sales worth nearly $800 million in 2006. One in five manufacturing jobs in Texas is supported by trade and one in three acres is planted for sale abroad.

Through a current U.S. trade preference program Peru already sells into America duty-free.  The new U.S.-Peru Trade Promotion Agreement creates two-way trade and levels the playing field for Texas businesses and workers by doing away with 80% of Peru’s tariffs immediately, including information technology equipment, construction equipment, forestry products, and auto parts.   

Texas farmers and ranchers will be able to sell more beef, cotton and other farm goods to Peru, thanks to the elimination of tariff barriers that limited U.S. exports.   And Texas services providers will be able to expand even more into Peru’s market.

The U.S.-Peru Trade Promotion Agreement will be considered by the full House of Representatives next week.

Congressman Kevin Brady is a Member of the House Ways and Means Committee and Trade Sub-committee, which overseas U.S. trade policy, and the Joint Economic Committee, which plays a significant role in issues affecting the U.S. economy.   He is recognized as one of the top leaders on trade issues in Congress, having successfully led the fight to approve the U.S.-Central American Free Trade Agreement two years ago.