November 30, 2007

Virtually all information technology products will be duty free upon entry into force of the U.S.-Colombia TPA. Despite tariffs that average over 8 percent and range up to 15 percent, U.S. exports of information technology products were $747 million in 2006, accounting for over 15 percent of total U.S. industrial exports to Colombia.

Source: Prepared by the International Trade Administration

November 29, 2007

The U.S.-South Korea FTA will be of particular benefit to U.S. small- and medium-sized businesses (SMEs), enterprises with fewer than 500 employees. In 2005, U.S. SMEs exported $8.2 billion in merchandise to S. Korea, representing 33 percent of total U.S. exports to S. Korea—above the 29 percent SME share of U.S. exports to the world.

Source: Prepared by the International Trade Administration

November 28, 2007

Panama’s average tariff is 7.3 percent on all products, compared to 3.5 percent for the United States. Panama’s tariff breaks down to 13.6 percent average applied NTR tariff on agricultural products and 6.6 percent average on nonagricultural products. Highest Panamanian applied tariffs are on dairy products. With the entry into force of the U.S.-Panama Trade Promotion Agreement, over 88 percent of U.S. exports of consumer and industrial products to Panama will become duty-free immediately, with remaining tariffs phased out over 10 years. In addition, more than half of current U.S. farm exports to Panama will become duty-free immediately, with tariffs on most remaining tariffs phased out within 15 years.
Source: Prepared by the International Trade Administration.

November 27, 2007

Colombia’s tariffs on most imports from the United States range from 5 to 15 percent with some as high as 35 percent. With the entry into force of the U.S.-Colombia Trade Promotion Agreement, over 80 percent of U.S. exports of consumer and industrial products to Colombia will become duty-free immediately, with the remaining tariffs phased out over 10 years.

Source: Prepared by the International Trade Administration

November 26, 2007

U.S. farmers and ranchers also gain tremendous access from the U.S.-Peru TPA with nearly 90 percent of current exports receiving duty-free treatment immediately upon entry into force of the Agreement. Peru will phase out all other agricultural tariffs within 17 years.

Source: Prepared by the International Trade Administration