The U.S. and Peru signed the U.S.-Peru Trade Promotion Agreement (PTPA) this week. According to the U.S. Trade Representative, more than two-thirds of current U.S. farm exports to Peru will become duty-free immediately upon implementation of the agreement. Tariffs on most U.S. farm products will be phased out within 15 years, with all tariffs eliminated in 17 years. The U.S. and Peru have resolved the sanitary and phytosanitary barriers to ag trade, including food safety inspection procedures for beef, pork and poultry. Congress is expected to consider the agreement later this year.