U.S., Peru sign trade agreement
The United States and Peru Wednesday signed a trade agreement that lower and equalize tariffs and otherwise expand trade between the countries.
U.S. trade with Peru has doubled over the past three years, reaching $7.4 billion in 2005. But while most Peruvian exports to the United States enter duty-free, U.S. exports have faced an average tariff of 9 percent, according to World Bank statistics.
The U.S. Chamber of Commerce praised the agreement.