South Korea 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” Does your company face a barrier to foreign trade? Face technical hurdles such as unfair testing, labelling or certification requirements, incriminating customs procedures or discriminatory investment rules by working with us. Peru The trade promotion agreement between the United States and Peru 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” Inevitably for two economies of this size with such a high volume of trade, the EU and the United States face a series of trade disputes dealt with by the WTO`s dispute settlement mechanism.
Morocco Since the implementation of the free trade agreement between the United States and Morocco in January 2006, the United States has maintained a trade surplus with Morocco. In 2016, U.S. exports to Morocco increased 269 percent to $1.2 billion, while U.S. imports from Morocco were $788 million. USTR US-Morocco FTA Page” The United States is the party to many free trade agreements (FTA) around the world. The United States has begun negotiating bilateral and multilateral free trade agreements with the following countries and blocs: The USTR is the primary responsibility for managing 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.
Another important type of trade agreement is the Trade and Investment Framework Agreement. TIFA provides a framework for governments to discuss and resolve trade and investment issues at an early stage. These arrangements are also a means of identifying and working, if necessary, for capacity building. The European Union and the United States have the largest bilateral trade and investment relations and the most integrated economic relations in the world.