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.