Colombia Trade Agreement Will Expand U.S. Exports, GDP, Jobs
04/07/2011
The TPA will strike tariffs and other U.S. export barriers in Colombia, foster economic growth, and expand trade between the two nations. In 2010, the United States exported $12 billion worth of goods to Colombia. The International Trade Commission (ITC) says the TPA's tariff reductions will result in an increase of $1.1 billion of U.S. exports and a $2.5 billion rise in U.S. GDP.
Other characteristics of the TPA include:
• More than 80 percent of U.S. consumer and industrial goods to Colombia immediately become duty-free
• The U.S. agriculture and construction equipment, aircraft and auto parts, fertilizers and agro-chemicals, IT equipment, medical and scientific equipment, and wood immediately become duty-free
• More than half of current U.S. farm exports to Colombia immediately become duty-free
The White House expects the TPA to maintain a critical share of the Colombian trade market. Colombia is implementing or pursuing trade talks with Canada, the European Union, South Korea, and Japan.
Project Announcements
Eastman Plans Longview, Texas, Production Operations
03/27/2024
DHL Supply Chain-Vantage Data Centers NV11 Plan Nevada Operations
03/26/2024
Big Jet Expands Pittsburgh, Pennsylvania, Operations
03/26/2024
Landmark Ceramics UST Expands Mt. Pleasant, Tennessee, Operations
03/25/2024
Google Plans Cedar Rapids, Iowa, Data Center
03/25/2024
Canada-Based Premier Tech Establishes Williamsport, Pennsylvania, Operations
03/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Logistics Analysis That Drives Industrial Site Selection
Q4 2023
-
Manufacturing Momentum Is Building
Q1 2024
-
Technology’s Influence on Workforce Development
Workforce Q4 2023
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023
-
Industry in the Era of the Electron
Q1 2024