US President Bush issued the implementing proclamation for the U.S. and Peruvian President Alan Garcia and Mercedes Aráoz Fernandez, Peru's Minister of Trade and Tourism, also signed the required proclamation to formally implement the free trade agreement.

In order to receive preferential treatment under the Agreement, U.S. and Peruvian goods must qualify as originating as prescribed under the Rules of Origin section of the Agreement (Annex 4.1). The Rules are similar, although not identical, to the rules of origin in the North American Free Trade Agreement (NAFTA), the U.S.-Chile Free Trade Agreement and the Central American-Dominican Republic-United States Free Trade Agreement (CAFTA-DR).

The US government will publish the Rules of Origin for the U.S.-Peru Free Trade Agreement in the General Notes of the Harmonized Tariff Schedule of the United States Annotated. The Harmonized Tariff Schedule of the US (HTSUS) will be changed to reflect the preferential duty rates for qualifying Peruvian products.

In order to conform to teh terms of the Agreement, Peru's Congress recently passed modifications to legislation on trade, health and the environment.

The Agreement was signed on April 12, 2006, approved by the U.S. House of Representatives on November 8, 2007 and by the U.S. Senate on December 4, 2007. President Bush signed the legislation implementing the Agreement on December 14, 2007.