Jordan Since the implementation of the U.S.-Jordan Free Trade Agreement in December 2001, trade with two retailers between the United States and Jordan has increased by more than 350%, from US$568 million in 2001 to more than $2 billion in 2016. USTR U.S.-Jordan FTA Page » The United States is the party to many free trade agreements around the world. Israel The free trade agreement between the United States and Israel, our country`s first free trade agreement, came into force on September 1, 1985. Since the free trade agreement came into force, trade in two-lane goods with Israel has increased five-fold, from $4.7 billion in 1985 to more than $27 billion in 2016. USTR U.S.-Israel Page FTA » Here is a list of free trade agreements to which the United States belongs. In parentheses, the abbreviation, if any, membership, unless indicated in advance, and the date of entry into force. The United States has begun negotiating bilateral and multilateral free trade agreements with the following countries and blocs: 14 U.S. free trade agreements are in force with 20 countries: Australia, Bahrain, Chile, Colombia, Israel, Jordan, Korea, Morocco, Oman, Panama, Peru, Singapore; DR-CAFTA (Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua); AND NAFTA (Canada and Mexico). Free trade agreements or free trade agreements have many advantages and can sometimes be complex to understand. Find out what a free trade agreement is. Which countries have agreements with which the United States has agreements? How can your business benefit? What is the impact of free trade agreements on my company`s imports and/or exports? The North American Free Trade Agreement (NAFTA) came into force on January 1, 1994.
NAFTA exports support more than three million U.S. jobs. In the first ten years of NAFTA, merchandise trade between the three countries more than doubled from some $293 billion in 1993 to nearly $627 billion in 2003. In 2016, merchandise trade between the United States and NAFTA`s two trading partners totaled nearly $800 billion. The Free Trade Agreement (KORUS-FTA) came into force on 15 March 2012. Korea is the sixth largest trading partner of the United States with a value of approximately $84.3 billion in 2016. U.S. exports to Korea were estimated at $30.7 billion, while Korean imports totalled $53.5 billion this year. USTR South Korea FTA Page » Peru The US-Peru trade promotion agreement was signed in December 2007. Since then, the United States has maintained a large trade surplus with Peru.
U.S. exports to Peru increased 43 percent in 2016 to $5.9 billion, while Peruvian imports were $4.3 billion. USTR Peru FTA Page » All Trade Statistics of Foreign Trade – U.S. Census Bureau. The United States has implemented 14 trade agreements with a total of 20 countries. The United States is a party to 14 free trade agreements with 20 countries. Below is information on the various free trade agreements. A free trade agreement is an agreement between two or more countries, in which countries agree on certain obligations that affect, among other things, trade in goods and services, as well as investor protection and intellectual property rights. For the United States, the primary objective of trade agreements is to remove barriers to U.S. exports, protect U.S.
interests abroad, and improve the rule of law in partner countries or countries of the free trade agreement. Removing trade barriers and creating a more stable and transparent business and investment environment make it easier and cheaper for U.S. companies to export their products and services to the markets of their trading partners. Bahrain Since its implementation in August 2006, the U.S.-Bahrain Free Trade Agreement has increased export opportunities for U.S. companies.