Next Wednesday, October 31, the US-Panama Trade Promotion Agreement will go into effect, dramatically reducing tariff rates across the range of US industrial and agricultural goods.
US Commerce Secretary Rebecca Blank said, "New US trade agreements mean more export opportunities for American companies-and more American jobs. The US-Panama Trade Promotion Agreement goes into effect next week, and will eliminate the majority of tariffs that US exporters currently face. The agreement guarantees expanded access for US manufactured and agricultural products, as well as to Panama's $22 billion services market, including in priority areas such as telecommunications, computer, distribution, express delivery, energy, environmental, and professional services."