The Peru Free Trade Agreement (H.R. 3688) is another in a series of free-trade agreements to transfer the power to regulate trade (and other powers as well) to regional arrangements. Other examples include the North American Free Trade Agreement (NAFTA) and Central American Free Trade Agreement (CAFTA).
The Peru FTA and other so-called free-trade arrangements threaten our national independence and (as we've seen with NAFTA) harm our economy.