Ways & Means OKs U.S.-Peru Trade Pact

By October 31, 2007Trade

From the Ways & Means Committee:

WASHINGTON – The House Committee on Ways and Means today approved implementing language for the US-Peru free trade agreement (FTA). The legislation, H.R. 3688, passed the Committee 39-0, indicating strong bipartisan support for the agreement. The US-Peru FTA is the first agreement to include, in its text, core standards for labor and the environment. The measure now moves to the House Floor for consideration by the body next week. Chairman Charles B. Rangel (D-NY) offered the following opening remarks during today’s markup:

“I want to reinforce the importance of the changes that took place in our American trade policy earlier this year to make it clear that, at the end of the day, no matter what agreement we are talking about, certain basic principles would be included in a bipartisan way. The inclusion of core standards for labor and important environmental protections, including an historic agreement on logging and greater access to life-saving medicines represent the culmination of a decade-long effort to incorporate these principles into the text of US trade agreements. By including these provisions, we make it possible for members to consider these agreements on their merits and substance, rather than feel as though they have been excluded from the process.

House vote next week, probably. For the NAM’s resources on this agreement, please go to www.nam.org/tradetoolkit.

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