Panamanian pig breeders have reported major damage due to an agreement with the United States

Tariff cuts on pig products due to the Panama- U.S . trade facilitation deal have severely hurt the industry, Panama's pig sector officials have warned, July 16 reports Prensa Latina.

The Trade Facilitation Agreement came into effect in 2012. Under the agreement, tariffs on U.S. pork products will continue to fall, first to 15.5% next year, then to 7.7% in 2025, and finally to zero in 2026.

Representatives of the pig sector argue that tariff cuts, which are favorable for the import of goods from the northern country, endanger the local economy and public peace.

The situation worries the pig breeders, who reminded the President of the Republic, Laurentino Cortiso, that this agreement will cause damage to the country, jeopardize the peace and social development of the Panamanian people.

Earlier, Agricultural Development Minister Augusto Valderrama warned that if the US does not accept the revision of the agreement, then some alternatives will have to be found, and then Panama will start exporting its products to other countries.