The US-Colombia Trade Promotion Agreement Was Signed on November 22, 2006

The U.S.-Colombia Trade Promotion Agreement was signed on November 22, 2006, in Washington, D.C. This comprehensive trade agreement eliminated tariffs and other barriers to goods and services. Colombia will immediately eliminate tariffs on wheat, barley, peanuts, and many other products in which Columbia does not have a comparative advantage. This policy means that the price of peanuts in Columbia will become

A) higher than the price when a tariff was in place
B) equal to the free trade price
C) lower than the free trade price
D) higher than the free trade price