The June 6 signing of the U.S.-Chile Free Trade Agreement (FTA) will be beneficial to U.S. pork producers. But it may spur approval of other FTAs providing even greater benefits.
The first agreement between the U.S. and a South American country was expected to be ratified by Congress in June, says the U.S. Meat Export Federation (USMEF).
It removes key trade barriers restricting U.S. meat exports to Chile. Pork tariffs will be removed entirely.
“The Chilean FTA is more significant to U.S. meat exporters as a potential precursor to the passage of a Central American Free Trade Agreement, which could provide an even greater market opportunity for U.S. beef, pork and lamb exports,” observes USMEF's Richard Fritz.