The United States is a member of the World Trade Organization (WTO) and the Marrakesh Agreement Establishing the World Trade Organization (WTO Agreement) establishes rules for trade among the 154 WTO Members. The United States and other WTO members are currently participating in the Doha Round of Global Trade Negotiations for Development, and a strong and open Doha Agreement on markets for goods and services would be an important contribution to overcoming the global economic crisis and restoring the role of trade in economic growth and development. Morocco Since the implementation of the U.S.-Morocco Free Trade Agreement in January 2006, the United States has achieved a trade surplus with Morocco. In 2016, U.S. exports to Morocco increased 269 percent to $1.2 billion, while U.S. imports from Morocco amounted to $788 million. USTR US-Morocco FTA Page » Jordan Since the implementation of the U.S.-Jordan Free Trade Agreement in December 2001, bilateral merchandise trade between the United States and Jordan has increased by more than 350 percent, from $568 million in 2001 to more than $2 billion in 2016. USTR US-Jordan FTA Page » Detailed descriptions and texts of many U.S. trade agreements are accessible through the Resource Center on the left. The North American Free Trade Agreement (NAFTA) entered into force on January 1, 1994.
NAFTA exports support more than three million American jobs. In the first ten years of NAFTA, merchandise trade between the three countries more than doubled, from about $293 billion in 1993 to nearly $627 billion in 2003. In 2016, merchandise trade between the United States and nafta`s two trading partners totalled nearly $800 billion. USTR NAFTA Page » Peru The trade promotion agreement between the United States and Peru 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% to $5.9 billion in 2016, while Peruvian imports totaled $4.3 billion. USTR Peru FTA Page » Another important type of trade agreement is the Trade and Investment Framework Agreement. TFA provide a framework for governments to discuss and resolve trade and investment issues at an early stage. These agreements are also a way to identify and work on capabilities, where appropriate. South Korea Korea-United States The Free Trade Agreement (KORUS-FTA) entered into force on March 15, 2012.
Korea is the sixth-largest trading partner of the United States, with bilateral trade worth about $84.3 billion worth of goods in 2016. U.S. exports to Korea were estimated at $30.7 billion, while imports from Korea this year amounted to $53.5 billion. USTR South Korea FTA Page » Australia The Free Trade Agreement between the United States and Australia entered into force on January 1, 2005. Since then, the United States has maintained a trade surplus of $9.3 billion in 2016. In the same year, the United States exported $16.6 billion worth of goods and imported $7.3 billion worth of Australian products. USTR Australia FTA Page » From the administration of Theodore Roosevelt, the United States became a major player in international trade, especially with its neighboring territories in the Caribbean and Latin America. Today, the United States has become a leader in the free trade movement, supporting groups such as the General Agreement on Tariffs and Trade (later the World Trade Organization). [Citation needed] All trade statistics come from the Foreign Trade – U.S. Census Bureau.” Israel The U.S.-Israel Free Trade Agreement, our country`s first free trade agreement, entered into force on September 1, 1985. Since the FTA entered into force, total bilateral trade in goods with Israel has increased fivefold, from $4.7 billion in 1985 to more than $27 billion in 2016. USTR US-Israel FTA Page » The United States has free trade agreements (FTAs) in effect with 20 countries.
These free trade agreements are based on the WTO Agreement and include broader and stricter disciplines than the WTO Agreement. Many of our free trade agreements are bilateral agreements between two governments. But some, such as the North American Free Trade Agreement and the Free Trade Agreement between the Dominican Republic, Central America and the United States, are multilateral agreements between several parties. The USTR has primary responsibility for the administration of U.S. trade agreements. This includes monitoring the implementation of trade agreements with the United States by our trading partners, enforcing America`s rights under those agreements, and negotiating and signing trade agreements that advance the president`s trade policy. Here is a list of free trade agreements that include the United States. Parentheses may include the abbreviation, composition, unless otherwise specified, and date of entry into force. Bahrain Since its implementation in August 2006, the U.S.-Bahrain Free Trade Agreement has increased export opportunities for U.S.
companies. ==External links==Exports to Bahrain, which totalled $652.3 million in 2016, have steadily increased since the entry into force of the free trade agreement. Two-way merchandise trade reached $1.2 billion in 2016, a 61% increase since 2005.USTR Bahrain FTA Page » Documenting how a product is created or meets the rules of origin can make the use of tariffs negotiated by the FTA a little more complicated. However, these rules help ensure that U.S. exports, rather than exports from other countries, reap the benefits of the agreement. Currently, the United States has 14 free trade agreements with 20 countries. FTAs can help your business enter the global market more easily and compete through zero or reduced tariffs and other regulations. Although the specificities of free trade agreements vary, they generally provide for the removal of barriers to trade and the creation of a more stable and transparent trade and investment environment. This makes it easier and cheaper for U.S. companies to export their products and services to trading partner markets. The United States has begun negotiating bilateral and multilateral free trade agreements with the following countries and blocs: Selling U.S.
Free Trade Agreements (FTAs) to partner countries can help your business more easily enter the global market and compete through the reduction of trade barriers. U.S. free trade agreements address a variety of foreign government activities that impact your business: reducing tariffs, strengthening intellectual property protections, increasing the contribution of U.S. exporters to the development of product standards for FTA partner countries, treating U.S. investors fairly, and improving foreign government procurement opportunities, and U.S. service companies. Colombia Negotiations between Colombia and the United States were concluded in February 2006 and the agreement was implemented on 15 May 2012. In 2016, the United States imported $10.4 billion worth of goods from Colombia and exported $9.7 billion worth of goods to Colombia. USTR US-Colombia TPA Page » Panama The trade promotion agreement between the United States and Panama was signed in October 2011 and went into effect on October 31, 2012.
The United States has achieved a steady trade surplus with Panama under the agreement. In 2016, the United States exported $4.6 billion worth of goods to Panama, while importing $3,056 million worth of Panamanian products. USTR US-Panama TPA Page » The United States has implemented 14 trade agreements with a total of 20 countries. A free trade agreement (FTA) is an agreement between two or more countries in which, among other things, countries agree on certain obligations that affect trade in goods and services, as well as the protection of investors and intellectual property rights. For the United States, the primary purpose of trade agreements is to remove barriers to U.S. exports, protect U.S. competing interests abroad, and improve the rule of law in FTA partner countries. The United States is a party to numerous free trade agreements (FTAs) around the world. Other types of opportunities commonly found in free trade agreements are: fair treatment of US investors, provided they are treated as favourably as the FTA partner country treats its own investors and their investments, or investors and investments from a third country. How can U.S.
companies identify tariffs on exports to FTA partner countries? See the list of FTA countries and preferential treatment requirements. Product standards: the opportunity for U.S. exporters to participate in the development of product standards in the FTA partner country. . The United States has 14 free trade agreements with 20 countries and is currently negotiating regional free trade agreements with several others. The FTA`s tariff tool can help you determine the tariff or tax at the U.S. border…