The U.S.-Colombia Trade Promotion Agreement went into effect on May 15. In 2011, the United States exported $1.1 billion of agricultural products to Colombia.
USDA estimates this trade agreement will increase agricultural exports by more than $370 million. Now in effect, products whose duties were eliminated immediately are wheat, barley, soybeans, soybean meal and flour, high-quality beef, bacon, almost all fruit and vegetable products, wheat, peanuts, whey, cotton and the majority of processed products.
The agreement also provides duty-free tariff rate quotas on standard beef, chicken leg quarters, dairy products, corn, sorghum, animal feeds, rice and soybean oil.