This report discusses the free trade agreement (FTA) the United States and Panama signed on June 28, 2007. While Panama's government ratified the FTA in July 2007, the 110th, 111th, and 112th Congresses have not yet implement ratification legislation.
This report presents a summary of trade negotiations and the proposed U.S.-Panama free trade agreement (FTA). The proposed U.S.-Panama FTA is a comprehensive agreement. Some 88% of U.S. commercial and industrial exports would become duty-free upon implementation, with remaining tariffs phased out over a 10-year period.