USTR is primarily responsible for the management of U.S. trade agreements. These include monitoring the implementation of trade agreements with the United States by our trading partners, the application of U.S. rights under those agreements, and the negotiation and signing of trade agreements that advance the President`s trade policy. Israel The free trade agreement between the United States and Israel, our country`s first free trade agreement, came into force on September 1, 1985. Since the free trade agreement came into force, trade in two-lane goods with Israel has increased five-fold, from $4.7 billion in 1985 to more than $27 billion in 2016. USTR UNITED States-Israel FTA Page” Australia The U.S.-Australia Free Trade Agreement came into force on January 1, 2005. Since then, the United States has maintained a trade surplus of $9.3 billion in 2016. In the same year, the United States exported $16.6 billion worth of goods and imported $7.3 billion in Australian products. USTR Australia FTA Page – The United States is a party to many free trade agreements around the world. The United States has free trade agreements with 20 countries. These free trade agreements are based on the WTO agreement, with broader and stronger disciplines than those of the WTO. Many of our free trade agreements are bilateral agreements between two governments.
But some, such as the North American Free Trade Agreement and the Dominican Republic-Central America-U.S. Free Trade Agreement, are multilateral agreements between several parties. South Korea The Free Trade Agreement (KORUS-FTA) came into force on 15 March 2012. Korea is the sixth largest trading partner of the United States with a value of approximately $84.3 billion in 2016. U.S. exports to Korea were estimated at $30.7 billion, while Korean imports totalled $53.5 billion this year. USTR South Korea FTA Page” North American Free Trade Agreement (ALEFTA) NAFTA came into force on January 1, 1994. NAFTA exports support more than three million U.S. jobs. In the first ten years of NAFTA, merchandise trade between the three countries more than doubled from some $293 billion in 1993 to nearly $627 billion in 2003. In 2016, merchandise trade between the United States and NAFTA`s two trading partners totaled nearly $800 billion. USTR NAFTA Page – The United States has 14 free trade agreements with 20 countries and is negotiating regional free trade agreements with several other countries.
Morocco Since the implementation of the free trade agreement between the United States and Morocco in January 2006, the United States has maintained a trade surplus with Morocco. In 2016, U.S. exports to Morocco increased 269 percent to $1.2 billion, while U.S. imports from Morocco were $788 million. USTR Us-Morocco FTA Page. Detailed descriptions and texts of many U.S. trade agreements are available left via the Resource Center. All Trade Statistics of Foreign Trade – U.S.
Census Bureau. Oman Oman was the fifth Middle Eastern country to sign a free trade agreement with the United States and the free trade agreement between the United States and Oman was implemented in January 2009. In 2016, the United States exported $1.2 billion worth of goods to Oman and $882 million in Omani products.