BUSINESS BRIEFING / INTERNATIONAL
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The U.S. and Peru agreed to implement a free-trade agreement, capping years of negotiations to eliminate tariffs and set investment rules, the U.S. trade office said.
The pact gives Peru, which primarily exports copper, zinc and other commodities, permanent, duty-free access to the world’s biggest economy.
U.S.-Peru trade, which totaled more than $11 billion in 2008, will increase by $1.5 billion once the accord is in effect as Peru ships more asparagus and apparel and American producers export more meat and grain, the U.S. International Trade Commission said.
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