March 20, 2008

All U.S. exports of construction equipment and over 94 percent of infrastructure and machinery products will be duty-free immediately upon entry into force of the Agreement. Construction equipment and infrastructure and machinery products currently face tariffs as high as 10 percent and 15 percent respectively. These tariff reductions will improve U.S. equipment manufacturers access to the Panamanian market, especially during the bidding processes for the Panama Canal expansion project. U.S. exports of capital goods to Panama totaled nearly $154 million in 2006.

Source: Prepared by the International Trade Administration