July 7, 2011: The United States and Mexico Wednesday signed a cross-border trucking agreement under which the U.S. will open its roads to Mexican trucks, while Mexico will suspend about $2 billion in tariffs on U.S. goods.

Under the agreement, signed by U.S. Trade Representative Ron Kirk and his Mexican counterpart in Mexico City, Mexico will suspend 50% of its tariffs within ten days, according to a statement by the U.S. Department of Transportation.

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