Trade Fact of the Day
The United States is already Korea's top supplier of a broad variety of agricultural exports at $2.85 billion ($3.4 billion including fish and forest products) in 2006, making Korea the sixth largest export market for U.S. farm products.
About Trade
"Trade fosters human opportunities that build hope and give people a stake in their society's success."
John D. Negroponte
Deputy Secretary of State
September 18, 2007
Facts Of The Day
March 31, 2008
Upon implementation of the U.S.-Korea Free Trade Agreement, U.S. wheat for milling will enter Korea duty free immediately. Korea’s imports of U.S. wheat will no longer be subject to the 1.8 percent WTO tariff or the autonomous tariff-rate quota of one percent. Although this tariff differential may be small, it could provide some additional advantage when competing against Canada and Australia.
Source: Prepared by the U.S. Department of Agriculture
March 28, 2008
Eighty-six percent of U.S. exports of electrical and electronic equipment will receive duty-free treatment immediately upon implementation of the Agreement, with the remaining duties phased out over five and ten years. Electrical and electronic equipment accounted for 1.5 percent of U.S. industrial exports to Panama in 2006, totaling $32 million. The top U.S. exports in this sector were television receivers, generators, photographic equipment, television cameras and parts. Panamanian tariffs range between zero and 15 percent with an average of 8.8 percent. The Government will need to develop new generation projects to meet the growing demand for electricity and to avoid possible energy shortages in the future.
Source: Prepared by the International Trade Administration
March 27, 2008
Information Technology (IT) products accounted for 15.2 percent of total U.S industrial exports to Colombia in 2006, totaling over $747 million. The top U.S. exports in this sector included computer parts, radio and TV broadcasting apparatus, and digital computing devices. Colombian tariffs range between 5 and 15 percent, with an average of 8.2 percent in 2006. For IT products, almost all U.S. industrial exports will receive duty-free treatment immediately upon implementation of the U.S.-Colombia Trade Promotion Agreement.
Source: Prepared by the International Trade Administration
March 26, 2008
Alaska’s export shipments of merchandise in 2007 totaled $3.9 billion, up 42 percent from 2003. Export-supported jobs linked to manufacturing account for an estimated 3.4 percent of Alaska's total private-sector employment. Over one-fourth or 25.9 percent of all manufacturing workers in Alaska depend on exports for their jobs. (2005 data are the latest available.)
Source: Prepared by the International Trade Administration
March 25, 2008
The U.S.-Colombia Trade Promotion Agreement (TPA) offers tremendous opportunities for Alaska’s exporters. The state's largest manufactured export category is primary metal manufactures, which accounted for $135 million of Alaska's total merchandise exports in 2007. U.S. exports of these products currently face Colombian tariffs averaging 9.2 percent, with some as high as 20 percent. Upon entry into force of the agreement, all U.S. exports of primary metal manufactures will be duty-free in the Colombian market within five to 10 years. Leading opportunities for U.S. exporters in this sector include iron and steel tubing, aluminum plates, hot-rolled iron, and drill pipe.
Source: U.S. Department of Commerce
