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