Senate Committee Approves Trade Measures

August 9, 2006 — 

The Senate Finance Committee approved a measure to extend permanent normal trade relations to Vietnam and drafted a U.S./Peru Free-Trade Agreement.

The committee passed the Peru measure on a vote 12 to 7 and the Vietnam PNTR bill 18 to 0. With Congress beginning a month-long recess, final action on both trade measures will wait at least until September. The National Pork Producers Council is leading a coalition that supports these two trade efforts.

An economic analysis conducted by Dermot Hayes, Iowa State University economist, found that, upon the Peru agreement's completion, U.S. pork exports to that country would boost live-hog prices by 83 cents a head. The Vietnam measure would allow U.S. exporters to benefit from the Asian nation's accession to the World Trade Organization, which would include significant cuts in tariff rates on pork.

Source:
National Pork Producers Council, Pork Daily Intelligence
http://www.nppc.org