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
February 22, 2008
Ninety-seven percent of U.S. medical equipment exports to Panama will receive duty- free access immediately upon entry into force of the trade Agreement. Duties on the remaining three percent of U.S. industrial imports, including orthopedic and fracture appliances and medical furniture will be eliminated over 10 years. Medical equipment accounted for one percent of U.S industrial exports to Panama in 2006, totaling nearly $21 million. The top U.S. exports in this sector included x-ray machines, tomography and electro-diagnostic apparatuses, medical sterilizers, and MRI machines. Panamanian tariffs range between zero and 15 percent, with an average of 8.6 percent.
Source: International Trade Administration
February 21, 2008
Automotives, motor vehicles and parts accounted for two percent of total U.S industrial exports to Korea in 2006, totaling $619 million. The top U.S. exports in this sector included car body parts and accessories and sedan-type passenger vehicles. Korean tariffs range between three and 10 percent, with an average of 8.3 percent. For automotives, 97.6 percent of U.S. exports will receive duty-free treatment immediately upon implementation of the Agreement. Tariffs on high-trade U.S. products such as car body parts and accessories and most passenger vehicles will be eliminated immediately upon implementation of the Agreement.
Source: Prepared by the International Trade Administration
February 20, 2008
Fifty-five percent of U.S. exports of motor vehicles and 97 percent of auto parts will receive duty-free treatment immediately upon implementation of the Panama Free Trade Agreement, with the remaining duties phased out over five and 10 years. Automotive products accounted for three percent of U.S. industrial exports to Panama in 2006, totaling $65 million. The top U.S. exports to Panama in this sector were road tractors, trucks, and passenger motor vehicles. Panamanian tariffs range between zero and 20 percent with an average tariff of 10.5 percent.
Source: Prepared by the International Trade Administration
February 19, 2008
Electronics and Electrical equipment accounted for two percent of total U.S industrial exports to Korea in 2006, totaling $601 million. The top U.S. exports in this sector included lasers, navigational instruments, magnetic tape, and audio electric amplifiers. Korean tariffs range between zero and 13 percent, with an average of 7.4 percent.
Source: Prepared by the International Trade Administration
February 15, 2008
Building products accounted for less than one percent of total U.S. industrial exports to Colombia in 2006, totaling $30 million. The top U.S. exports to Colombia in this sector were refractory bricks, float glass, certain stone articles, and prefabricated buildings. Colombian tariffs range between five and 20 percent with an average of 13.2 percent in 2006. For building products, 58 percent of U.S. industrial exports will receive duty-free treatment immediately upon implementation of the U.S.-Colombia Trade Promotion Agreement. Tariffs on another 26 percent of exports will be eliminated over five years.
Source: Prepared by the International Trade Administration
