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President Obama and President Felipe Calderon announced that after the Congress approves the agreement, the U.S. will begin to permit Mexican trucks to cross the border, ending a long simmering dispute that saw Mexico impose tariffs on $2.4 billion worth of U.S. pork, cheese, corn and fruits.
Unions are reportedly dismayed by the agreement but business leaders are applauding it.
Mexico will suspend 50 percent of the tariffs when the accord is signed.
The remaining tariffs will be eliminated when the first Mexican truck crosses the border into the United States.
The announcement comes at a low point in U.S./Mexico relations with "bad blood" from recent WikiLeak cables revelations and growing heat on Calderon at home over his failure to stop the fearsome narco violence.
