Current Trade Agreements With Us

All Trade Statistics of Foreign Trade – U.S. Census Bureau.┬áSouth Korea The Free Trade Agreement (KORUS-FTA) came into force on 15 March 2012. Korea is the sixth largest trading partner of the United States with a value of approximately $84.3 billion in 2016. U.S. exports to Korea were estimated at $30.7 billion, while Korean imports totalled $53.5 billion this year. USTR South Korea FTA Page” Peru The US-Peru trade promotion agreement was signed in December 2007. Since then, the United States has maintained a large trade surplus with Peru. U.S. exports to Peru increased 43 percent in 2016 to $5.9 billion, while Peruvian imports were $4.3 billion.

USTR Peru FTA Page” Unless stated contrary to “EU” for all the years indicated, the current European Union of 27 Member States. Detailed descriptions and texts of many U.S. trade agreements can be accessed through the Left Resource Center. Another important type of trade agreement is the Trade and Investment Framework Agreement. TIFA provides a framework for governments to discuss and resolve trade and investment issues at an early stage. These arrangements are also a means of identifying and working, if necessary, for capacity building. Panama The U.S.-Panama Trade Promotion Agreement was signed in October 2011 and came into force on October 31, 2012. The United States maintained a consistent trade surplus with Panama under the agreement. In 2016, the United States exported $4.6 billion worth of goods to Panama, while it imported $3056 million in Panamanian products. USTR US-Panama TPA Page” inevitably for two economies of this size with such a high volume of trade, the EU and the United States face a series of trade disputes dealt with by the WTO`s dispute settlement mechanism. A free trade agreement is an agreement between two or more countries, in which countries agree on certain obligations that affect, among other things, trade in goods and services, as well as investor protection and intellectual property rights.

For the United States, the primary objective of trade agreements is to remove barriers to U.S. exports, protect U.S. interests abroad, and improve the rule of law in partner countries or countries of the free trade agreement.

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