Free Trade Agreements

Free Trade Agreements

Free trade agreements (FTAs) have proved to be one of the best ways to open up foreign markets to U.S. exporters. Today, the United States has FTAs with 14 countries. In 2006, six new FTAs were implemented: with Bahrain, El Salvador, Guatemala, Honduras, Morocco, and Nicaragua. Last year, trade with countries that the United States has FTAs was significantly greater than their relative share of the global economy. Although comprising 7.5 percent of global GDP (not including the United States), those FTA countries accounted for over 42 percent of U.S. exports.

U.S. Free Trade Agreement Partners in the Global Economy

FTA = free trade agreement
GDP = gross domestic product
Note: World GDP excludes the United States. GDP percentage shares are based on GDP figures on a purchasing power parity basis. Export figures are for total U.S. Exports.
Free trade agreement countries include all countries with free trade agreements with the United States (Australia, Bahrain, Canada, Chile, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Jordan, Mexico, Morocco, Nicaragua, and Singapore).

Sources: International Monetary Fund, World Economic Outlook Database (April 2007); U.S. Department of Commerce, International Trade Administrations, and Bureau of the Census

Pending Free Trade Agreements

Colombia
    NEW! U.S.-Colombia TPA Fact Sheet
    A Partnership to Prosperity
    Why a Colombia Trade Promotion Agreement?
    Case for Colombia: Giving American Products a Fair Shake
    State by State Impact Reports
    Industry Sectoral Reports
    United States Trade Representative (USTR) Information

Korea
    Why a Korea Trade Promotion Agreement?
    State by State Impact Reports
    Industry Sectoral Reports
    USTR Information

Panama
    Why a Panama Trade Promotion Agreement?
    State by State Impact Reports
    USTR Information

FTA Partners and the US Trade Balance in 2006. $442 billion exports to and $574 billion imports from FTA countries. $595 billion exports to and $1,281 billion improts from non-FTA countries. Source: U.S. Department of Commerce