From the Summary: "The U.S.-Colombia Trade Promotion Agreement entered into force on May 15, 2012. It is a comprehensive free trade agreement (FTA) between the United States and Colombia, which will eventually eliminate tariffs and other barriers in bilateral trade in goods and services. [...] The United States is Colombia's leading trade partner in both imports and exports. Colombia accounts for a very small percentage of U.S. trade (less than 1% in 2021), ranking 21st among U.S. export markets and 32nd among foreign exporters to the United States in 2021. The economic effects of the U.S.-Colombia FTA are difficult to measure because of the large number of economic variables that affect trade as well as investor confidence. Some economic studies estimated that, upon full implementation, the impact on the United States would likely be positive but very small due to the small size of the Colombian economy. The congressional debate surrounding the U.S.-Colombia FTA mostly centered on violence, labor, and human rights issues in Colombia. Numerous Members of Congress opposed passage of the agreement because of concerns about alleged targeted violence against union members in Colombia, inadequate efforts to bring perpetrators to justice, and weak protection of worker rights. [...] To address the concerns related to labor rights and violence in Colombia, the United States and Colombia agreed upon an 'Action Plan Related to Labor Rights' that included specific and concrete steps to be taken by the Colombian government with specific timelines. It included numerous commitments to protect union members, end impunity, and improve worker rights."
CRS Report for Congress, RL34470
Congressional Research Service: https://crsreports.congress.gov/