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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

    U.S. Industrial Goods and Manufacturing in the U.S.-Panama Trade Promotion Agreement

    Trade Agreement Home  •  Key Facts  •  Your Community

    Manufacturing Plant

    Manufactured goods account for 82 percent of U.S. exports to Panama – totaling $2.2 billion in 2011. Between 2009 and 2011 the top five U.S. industrial goods export sectors to Panama were information technology, infrastructure and machinery, chemicals, minerals and fuels and consumer goods.

    The U.S.-Panama Trade Promotion Agreement (the “Agreement”) creates new opportunities for U.S. manufacturers seeking to export to Panama, giving American manufacturers more market access in two ways: (1) by eliminating tariffs, or duties, charged when U.S. exports come into Panama, and (2) by laying out a framework to address other barriers to U.S. exports – including those that may arise in the future.

    KEY ELEMENTS:

    • Today, Panama enjoys effectively unlimited duty free access to the U.S. market for over 98 percent of its exports due to our low tariffs and access under U.S. trade preference programs. U.S. industrial goods exports to Panama, on the other hand, face an average tariff rate of 7 percent. In important sectors the average rate can be even higher: transportation equipment (13.9 percent); auto and auto parts (10.3 percent); and consumer goods (10.9 percent). The Agreement’s elimination of high Panamanian tariffs will open new opportunities for U.S. exports.

    • Over 86 percent of U.S. industrial and consumer goods will gain duty-free access to the Panamanian market immediately upon implementation. Most products in key U.S. export sectors, such as agricultural equipment, aerospace, automotive, construction equipment, electrical equipment, environmental goods, information and communications technologies, infrastructure and machinery, scientific equipment and mineral fuels – will gain duty-free access to the Panamanian market immediately upon entry into force of the Agreement.

    • Panama has agreed to allow trade in remanufactured goods under the Agreement. This will provide significant export and investment opportunities for U.S. firms involved in re-manufactured products such as machinery, computers, cellular telephones, and other devices.

    • Beyond tariffs, the Agreement establishes new transparency rules on the development of technical requirements on products. Under the Agreement, American manufacturers and others will have greater input into the process, and to participate on equal terms with Panamanian companies in the development of Panamanian standards, technical regulations, and conformity assessment procedures. This will be important for all U.S. exporters, but this new level of transparency will especially benefit small and medium-sized enterprises that typically lack resources to access information on technical requirements.

    • The Agreement’s intellectual property rights provisions contain state-of-the-art protections for intellectual property with protections for patents, trademarks, and copyrights – critically important for U.S. industry’s knowledge-based manufactured goods such as semiconductors and other information technology products, aerospace equipment, and medical devices, to name just a few.