Peru

In a victory for American consumers (via lower prices) and producers in Peru (via access to the huge USA marketplace) US President George W. Bush just signed a free trade agreement into law between Peru and the USA last week.

Peru's economy is growing at an impressive 7.5% annual rate so clearly they are building the market momentum needed to compete in the world economy. Lastly, there is a geo-political benefit from this new trade agreement since it helps the USA with its South American neighbors since similar trade deals are pending with Columbia and Panama. These two countries are vital allies in the "war on drugs" that the USA has waged - with our tax dollars - unsuccessfully for decades so I hope we sign trade deals with them in 2008 so we can move beyond the current failed, drug control policy to a policy of open markets that generate economic choices that extend beyond the drug trade.

Free trade not drug wars,

Todd