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Recent News

 

February 4, 2014:
USTR Director for Environment and Natural Resources Sarah Stewart Participates in Inaugural Environment Meetings with the Government of Panama

 

October 23, 2012:

Blog Post: U.S. and Panama Set Date for Entry-Into-Force of the U.S.-Panama Trade Promotion Agreement

 

 

October 22, 2012:
United States, Panama Set Date for Entry into Force of United States-Panama Trade Promotion Agreement 

 

October 21, 2011:
Statement By U.S. Trade Representative Ron Kirk On Presidential Signature Of Trade Legislation

 

October 13, 2011
Statements Regarding the Congressional Approval of the Korea, Colombia, and Panama Trade Agreements

 

From Enactment To Entry Into Force: Next Steps On The Trade Agreements

 

October 12, 2011:
Statement By U.S. Trade Representative Ron Kirk On Congressional Passage Of Trade Agreements, Trade Adjustment Assistance And Key Preference Programs

 

October 3, 2011
U.S Trade Representative Ron Kirk Calls for Swift Passage of Trade Agreements

 

  • The United States – Panama Trade Promotion Agreement: Implementing Legislation and Supporting Documentation

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  • Statements Regarding the President’s Submission to Congress of the South Korea, Colombia, and Panama Trade Agreements

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  • The Pending Trade Agreements: More American Jobs, Faster Economic Recovery Through Exports

  • September 2011

    United States - Panama Trade Promotion Agreement: Final Environmental Review


    August 3,2011
    Kirk Comment on Pending Trade Agreements, Trade Adjustment Assistance

     

     

    July 7, 2011
    USTR Kirk Comments Following Trade Markups In Senate Finance, House Ways and Means Committees

     

    July 5, 2011
    Statement from USTR Kirk Regarding Announcement of House Ways & Means Committee Markup

     

    June 30, 2011
    Ambassador Kirk Statement Regarding the Planned Informal Markup in The Senate Finance Committee

     

    June 29, 2011:
    INFO: Links on Pending Trade Agreements, TAA, Preference Programs

     

    June 28, 2011:
    U.S. Trade Representative Ron Kirk Welcomes Next Steps on Pending Trade Pacts, Trade Adjustment Assistance

     

    May 11, 2011
    Testimony of Deputy United States Trade Representative Miriam Sapiro Before the Senate Finance Committee

     

    April 18, 2011
    Ambassador Ron Kirk Announces Next Step for U.S.-Panama Trade Promotion Agreement

    Important U.S.-Panama Links


    Port of MiamiBenefits for Your Industry: USTR Fact Sheets

    Panama is one of the fastest growing economies in Latin America, expanding 6.2 percent in 2010, with similar annual growth forecast through 2015. This comprehensive Agreement will eliminate tariffs and other barriers to U.S. exports, promote economic growth, and expand trade between our two countries.  Visit USTR's Fact Sheet page to find out how the agreement will specifically benefit your sector.

     

    Tractor in a fieldBenefits for Your Farm: Agriculture Fact Sheets

    Panama is an important market for America’s farmers and ranchers. In 2010, the United States exported over $450 million of agricultural products to Panama, more than double U.S. agricultural exports to Panama in 2005. Top U.S. exports were corn, soybean cake and meal, wheat, rice, and horticultural products. Visit the Department of Agriculture's website to find out how the agreement will benefit your sector.

     

    Manufacturing PlantBenefits for Your Sector: Industry Fact Sheets: Benefits for Your Sector

    Over 87 percent of U.S. exports of consumer and industrial products to Panama will become duty-free immediately, with remaining tariffs phased out over ten years. U.S. products that will gain immediate duty-free access include information technology equipment, agricultural and construction equipment, aircraft and parts, medical and scientific equipment, environmental products, pharmaceuticals, fertilizers, and agro-chemicals. Visit the Department of Commerce's website to find out how the agreement will benefit your sector.  

     

    AgreementFull Text of the Agreement

    Read the full text of the U.S.-Panama trade agreement, which is an integral part of the President’s efforts to increase opportunities for U.S. businesses, farmers and workers through improved access for their products and services in foreign markets, and supports the President’s National Export Initiative goal of doubling of U.S. exports in 5 years.

    Support for the U.S.-Panama Trade Agreement

    Statements of support for the U.S.-Panama Trade Agreement from various elected officials, the business community, and advocacy groups can be found below.

     

    Visit Your Government Trade Partners

    Visit USTR's partners across the federal government to learn more about their part in the trade agreement.

    Department of Agriculture Seal     Department of Agriculture

    Commerce Seal     Commerce Department

    Labor Department Seal     Department of Labor

    OMB Seal     Office of Management and Budget

    Export Import Bank Seal      Export-Import Bank

    SBA Seal      Small Business Administration

    OPIC Seal      Overseas Private Investment Corp.

    USTDA Seal      Trade and Development Agency

    State Department Seal      State Department

    Agriculture in the U.S.-Panama Trade Promotion Agreement

    Trade Agreement Home  •  Key Facts  •  Your Community

    FarmThe U.S.-Panama Trade Promotion Agreement (“the Agreement”) creates new opportunities for U.S. farmers, ranchers, workers, and food processors seeking to export to Panama, one of the fastest growing economies in Latin America. This comprehensive Agreement will eliminate tariffs and other barriers to U.S. exports, promote economic growth, and expand trade between our two countries.

    Panama is already an important market for America’s farmers and ranchers. In 2011, the United States exported nearly $505 million of agricultural products to Panama. Top U.S. exports were corn, wheat, soybean cake and meal, dairy products, poultry meat, and rice. Upon implementation of the Agreement, U.S. exporters will receive duty-free treatment on products accounting for nearly half of current trade, with tariffs on most remaining agricultural products phased out within 15 years.

    KEY ELEMENTS:

    Market Access: The Agreement is comprehensive, covering all agricultural products. Liberalization of Panama’s market will occur through tariff reductions and the expansion of duty-free tariff-rate quotas (TRQs).

    Tariff Elimination: Under the Agreement, tariff phase-out periods range from immediate duty-free access to a maximum phase-out period of 20 years. Tariffs on 68 percent of Panama’s agricultural tariff lines, accounting for more than half of current U.S. trade by value, will be eliminated on entry into force of the Agreement. For agricultural products from Panama, U.S. tariffs will be eliminated immediately for the 89 percent of agricultural tariff lines already duty-free under the Caribbean Basin Initiative, covering over 99 percent of the value of Panama’s agricultural exports to the United States. Most other tariffs for both countries will be eliminated within 15 years. As a general rule, tariffs will be reduced in equal annual installments over the phase-out period, with the first tariff cut made on the date the agreement enters into force. For certain sensitive products, tariff cuts will be made annually after an initial period when tariffs are not reduced.

    Tariff-Rate Quotas (TRQs): For some products with longer tariff phase outs, specific volumes of immediate duty-free market access will be provided through the creation and expansion of TRQs (providing duty-free access for a specified quantity of imports). Most of these TRQs will be operated on a first-come, first-served basis. The Agreement includes special disciplines for Panamanian TRQs that will be administered through auctions or historical licenses, as well as a prohibition on the use of domestic purchase requirements.

    Agricultural Safeguards: Agricultural safeguard measures will be available for certain sensitive products, allowing for temporary tariff increases if import quantities exceed agreed trigger levels. Safeguards will no longer be allowed once tariff protection has been phased out.

    Export Subsidies

    The United States and Panama agreed not to use export subsidies on products shipped into each other’s market except to compete with third-party export subsidies.

    Sanitary and Phytosanitary Measures (SPS) and Technical Standards

    In December 2006, the United States and Panama signed an extensive agreement on SPS measures and technical standards to address many long-standing SPS and other regulatory concerns relating to trade in products ranging from meat and poultry to dairy and other processed products. Under this agreement, which has been fully implemented, Panama recognized the equivalence of the U.S. food safety inspection system for meat and poultry, and the U.S. regulatory system for processed foods, including dairy products, ending its requirements for plant-by-plant and/or shipment-by-shipment inspections. Panama also brought its sanitary requirements on imports of beef and beef products and poultry and poultry products into conformance with international standards, including those on bovine spongiform encephalopathy (BSE) and avian influenza, thereby re-opening its market to U.S. exports of these products. Panama has streamlined import documentation requirements, including its product registration system for processed foods and for U.S. agricultural products and formalized its continued recognition of the U.S. beef grading system and cuts nomenclature.