Free Trade Agreement Tariff Tool Allows Us Businesses To

The tool also offers product-specific rules of origin, which help companies determine eligibility for preferential rates. The United States currently has 14 free trade agreements with 20 countries. Free trade agreements can help your business enter and compete more easily in the global marketplace through zero or reduced tariffs and other provisions. Although the specifics of each free trade agreement are different, they generally provide for the removal of trade barriers and the creation of a more stable and transparent trade and investment environment. This makes it easier and cheaper for U.S. companies to export their products and services to the markets of their trading partners. Reducing or abolishing tariffs on qualified persons. For example, a country that normally calculates a tariff of 12% of the value of the incoming product removes that tariff for products originating in the United States (as defined in the free trade agreement). This makes you more competitive in the market.

The FTA tariff instrument includes all products (agricultural and non-agricultural products) classified in the 97 chapters of the harmonized system and contains information on product-specific rules of origin to determine the eligibility of reduced rates with each U.S. FTA partner. The FTA tariff instrument provides not only information on current tariff lines, but also transparency on future tariffs and the year in which these products will be tariff-free. Selling the Free Trade Agreement (FTT) to partner countries can help your company position itself and compete more easily in the global marketplace by removing barriers to trade. U.S. free trade agreements deal with a wide range of foreign government activities that affect your business: reducing tariffs, strengthening intellectual property protection, increasing the contribution of U.S. exporters to the development of FTA partner countries, fair treatment of U.S. investors, and improving opportunities for foreign government procurement and U.S.

service companies. The FTA tariff tool now contains customs and origin rules for the U.S.-Mexico-Canada Agreement (USMCA). The USMCA will be implemented on July 1, 2020. More detailed information on agricultural products, including tariffs, tariffs and security measures, can also be found in the U.S. Department of Agriculture`s agricultural tariff tracker. The FTA tariff tool only provides tariff information for the United States.