Description
“More than half of the United States’ FTA partners are in Latin America. These 11 economies – Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, and Peru – all have a rapidly growing base of middle-class consumers and diversifying industries. The United States’ FTA partners in Latin America offer a unique combination of similar language and business cultures. In addition to low or zero tariff rates on merchandise, FTAs increase transparency, improve the business environment for services and government procurement, and reduce market access barriers in areas such as intellectual property rights, standards, and customs procedures. These countries also have made clear commitments to opening their markets and integrating supply chains with the United States.”