Ustr Gov Trade Agreements

April 14th, 2021 2:29 pm

The United States is a member of the World Trade Organization (WTO) and the Marrakesh Agreement establishing the World Trade Organization (WTO) contains rules for trade among the 154 members of the WTO. The United States and other WTO members are currently participating in the WTO negotiations on development in Doha and a strong and open Doha agreement on both goods and services would go a long way in managing the global economic crisis and restoring the role of trade in promoting economic growth and development. The U.S.-Mexico-Mexico Agreement (USMCA) is a trade agreement between these parties. The USMCA replaced the North American Free Trade Agreement (NAFTA). 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.

In 2000, Nigeria and the United States signed a Framework Agreement on Trade and Investment (TIFA). The eight TIFA Council meetings between the United States and Nigeria took place in March 2014 and Nigeria was represented by the Federal Ministry of Industry, Trade and Investment (FMITI). To view the TIFA document, click Nigeria on the following link: ustr.gov/trade-agreements/trade-investment-framework-agreements. USTR is primarily responsible for the management of U.S. trade agreements. These include monitoring the implementation of trade agreements with the United States by our trading partners, the application of U.S. rights under those agreements, and the negotiation and signing of trade agreements that advance the President`s trade policy. Panama The U.S.-Panama Trade Promotion Agreement was signed in October 2011 and came into force on October 31, 2012. The United States maintained a consistent trade surplus with Panama under the agreement. In 2016, the United States exported $4.6 billion worth of goods to Panama, while it imported $3056 million in Panamanian products. USTR US-Panama TPA Page” U.S. FTA Partner Countries: Australia; Bahrain; Chile; Colombia; DR-CAFTA: Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua; Israel; Jordan; Korea; Morocco; NAFTA: Canada – Mexico; Oman; Panama; Peru; Singapore.

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