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
ValorFlex Packaging Plans Bowling Green, Kentucky, Production Operations
06/30/2025
Neuro.io Plans Terrebonne Parish, Louisiana, Operations
06/30/2025
Germany-Based MTU Maintenance Expands Fort Worth, Texas, MRO Operations
06/30/2025
Cascade Die Casting Group Expands High Point, North Carolina, Manufacturing Operations
06/30/2025
BuildOps Plans Raleigh, North Carolina, Operations
06/30/2025
Point Blank Enterprises Plans Wakulla County, Florida, Operations
06/30/2025
Most Read
-
20th Annual Area Development Gold and Silver Shovel Awards
Q2 2025
-
First Person: Joe Capes, CEO, LiquidStack
Q2 2025
-
The Legal Limits of DEI in Incentives Agreements, Hiring, and Contracting
Q2 2025
-
From Silicon to Server: Mapping the Data Center Supply Chain
Q2 2025
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
Rethinking Life Sciences Site Selection in a Resilient and Dynamic Market
Q2 2025
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024