WASHINGTON — President Bush on Friday signed a U.S.-Peru free-trade agreement, paving the way for stronger economic ties with the Andean nation and boosting the administration’s efforts to shore up relations with Latin America.
“The bill will help increase opportunities for workers, ranchers, farmers and business in both our countries,” Bush said, standing with Peru’s president, Alan Garcia.
The bilateral trade deal approved by Congress is the first under a new formula that requires negotiators to put labor rights and environmental standards on par with tariff reductions, investor protections and other key elements of the accord.
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