What Countries Does The United States Have Free Trade Agreements With

Australia The U.S.-Australia Free Trade Agreement came 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 in Australian products. USTR Australia FTA Page” Morocco Since the implementation of the free trade agreement between the United States and Morocco in January 2006, the United States has maintained 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 were $788 million. USTR USA-Morocco Page FTA”South Korea-U.S. Free Trade Agreement (KORUS-FTA) came into force on March 15, 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” Documenting how a product forms or complies with the rules of origin can make the use of FTA-negotiated tariffs a little more complicated. However, these rules help ensure that U.S. exports, not exports from other countries, benefit from the agreement. How can U.S. companies determine tariffs on exports to FTA partner countries? The United States is a party to many free trade agreements around the world. Israel The free trade agreement between the United States and Israel, our country`s first free trade agreement, came into force on September 1, 1985. Since the free trade agreement came into force, trade in two-lane goods with Israel has increased five-fold, from $4.7 billion in 1985 to more than $27 billion in 2016.

USTR U.S.-Israel Page FTA” Here is a list of free trade agreements to which the United States belongs. In parentheses, the abbreviation, if any, membership, unless indicated in advance, and the date of entry into force. Chile Since the U.S.-Chile Free Trade Agreement came into force in January 2004, U.S. exports to Chile have increased from $2.7 billion in 2003 to more than $10 billion in 2016. Chilean exports to the United States increased from $3.7 billion in 2003 to $6.7 billion in 2016. USTR U.S.-Chile FTA Page” If you want to export your product or service, the U.S. may have negotiated favourable treatment through a free trade agreement to make it simpler and cheaper for you. Access to the benefits of FTA for your product may require more registration, but can also give your product a competitive advantage over products from other countries.

There are 14 U.S. free trade agreements in force with 20 countries: Australia, Bahrain, Chile, Colombia, Israel, Jordan, Korea, Morocco, Oman, Panama, Peru, Singapore; DR-CAFTA (Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua); AND NAFTA (Canada and Mexico). 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.