Trade Agreements can create opportunities for Americans and help to grow the U.S. economy. They lay out “rules of the road” for U.S. companies looking to do business in markets around the world by reducing barriers to U.S. exports, protecting U.S. interests, and enhancing the rule of law in trade agreement partner countries. There are many types of trade agreements, including:
- World Trade Organization (WTO) agreements that set rules out governing trade among the WTO’s 154 members;
- Free Trade Agreements (FTAs); the United States has 14 in force with 20 countries that build on the foundation of the WTO Agreement, providing even more protections and rights to U.S. businesses; and
- Bilateral Investment Treaties (BITs) that help protect private investment, develop market-oriented policies in partner countries, and promote U.S. exports.
Free Trade Agreements
If you are looking to export your product or service, the United States may have negotiated favorable treatment through an FTA to make it easier and cheaper for you. Accessing FTA benefits for your product can also give your product a competitive advantage versus products from other countries.
World Trade Organization Agreements
The World Trade Organization (WTO) Agreements create an international trade legal framework for 164 economies around the world. These Agreements cover goods, services, intellectual property, standards, investment and other issues that impact the flow of trade.
U.S. law allows U.S. Department of Commerce to enter into an agreement to suspend an antidumping duty (AD) and/or countervailing duty (CVD) investigation when the relevant parties to the case reach an agreement and when certain statutory and policy criteria are met. Suspension agreements require ongoing monitoring by Commerce to ensure compliance and effectiveness.
Bilateral Investment Treaties
A Bilateral Investment Treaty is designed to ensure that U.S. investors receive national or most favored nation treatment (whichever is better) in the other signatory country. It protects U.S. investors against performance requirements, restrictions on transfers and arbitrary expropriation.
Intellectual Property Rights Agreements
Receive information and assistance regarding intellectual property rights such as guides, contact information, STOPfakes Roadshows, and toolkits.
Trade Agreement Guides
These guides will summarize the 5 takeaways: What it is, what it does, who benefits from it, how it can help you, and where to find more information.
Florence Agreement Program
UNESCO experts meeting in Florence (It. Firenze), Italy in the early 1950s adopted the terms of an international agreement to promote international understanding and peace by lowering barriers to the exchange of cultural, scientific and educational materials, most importantly by waiving tariffs on such materials.
World Wine Trade Group
The World Wine Trade Group (WWTG) is a group of government and industry representatives from the wine-producing countries of Argentina, Australia, Canada, Chile, Georgia, New Zealand, South Africa, the United States, and Uruguay. Founded in 1998, the Group aims to facilitate international trade in wine through information sharing, discussion of regulatory issues in wine markets, and joint actions for the removal of trade barriers.