Trade Fact of the Day
The U.S. manufactured goods trade balance improved 122 percent with our FTA partners, but only six percent with non-FTA partners in the first five months of 2008.
About Trade
"Free and fair trade helps secure a future of freedom and promise."
President George W. Bush
World Trade Week Proclomation
May 16, 2008
Facts Of The Day
October 31, 2007
With the entry into force of the U.S.-Peru Trade Promotion Agreement, all U.S. exports of agricultural equipment will receive duty-free treatment immediately upon implementation of the Agreement. For construction equipment, U.S. manufacturers currently pay tariffs averaging 5.9 percent but rising as high as 12 percent. With the entry into force of the Agreement, 95 percent of industrial exports will receive duty-free treatment with the remaining tariffs being phased out over seven years.
Source: Prepared by the International Trade Administration
October 30, 2007
Manufactured goods made up 91 percent of U.S. merchandise exports to Peru in 2006. Agricultural and construction machinery were the largest manufactured export category, with $381 million, or 13 percent of total U.S. shipments of merchandise. Peru’s tariffs on agricultural equipment range between zero and 12 percent with an average of 4.5 percent.
Source: Prepared by the International Trade Administration
October 29, 2007
Currently 98 percent of imports from Peru into the United States benefit from duty free treatment as a result of U.S. unilateral preference programs such as the Andean Trade Promotion and. Drug Eradication Act (ATPDEA) and the Generalized System of Preferences, or zero normal trade relations (NTR) tariffs. The U.S.-Peru Trade Promotion Agreement levels the playing field by moving beyond one-way preferences to full partnership and reciprocal commitments under which U.S. exports also benefit from duty free treatment.
Source: Prepared by the International Trade Administration
October 26, 2007
Today 92 percent of imports from Colombia into the United States benefit from duty free treatment as a result of U.S. unilateral preference programs such as the Andean Trade Preferences Act (ATPA) and the Generalized System of Preferences (GSP) or zero normal trade relations (NTR) tariffs.
Source: Prepared by the International Trade Administration
October 25, 2007
Korea is the sixth largest U.S. agricultural export market. Major U.S. agricultural exports to South Korea included cereals, soybeans, meat, and fruit in 2006.
Source: Bureau of Census
