List of Trade Agreement Act Countries

List of Trade Agreement Act Countries: Know Where Your Business Stands

As a business owner or entrepreneur, it’s essential to be aware of the trade agreements between your country and others. The Trade Agreement Act, or TAA, aims to promote fair and open trade relationships between the United States and other countries while protecting the American industries and jobs.

The TAA requires that any products or services purchased by the federal government must be made or substantially transformed in a designated country. Therefore, knowing which countries are listed under the TAA is crucial for businesses that want to participate in government contracting.

So, here’s a list of the countries that have a trade agreement with the United States, as of October 2021:

1. Australia

2. Bahrain

3. Canada

4. Chile

5. Colombia

6. Costa Rica

7. Dominican Republic

8. El Salvador

9. Guatemala

10. Honduras

11. Israel

12. Jordan

13. Korea

14. Mexico

15. Morocco

16. Nicaragua

17. Oman

18. Panama

19. Peru

20. Singapore

21. United Kingdom

It`s important to note that these countries have different agreements with the United States, with some countries having a comprehensive agreement like Canada and Mexico under the North American Free Trade Agreement (NAFTA) and the US-Mexico-Canada Agreement (USMCA).

Other countries, such as Jordan, have a Free Trade Agreement (FTA) that focuses on specific products or services. Additionally, countries like Singapore and Australia have a bilateral agreement, while countries such as Chile and Colombia have a regional agreement with the United States.

So what does being on this list mean for your business?

As mentioned before, the TAA requires that any product or service purchased by the federal government must be made or substantially transformed in a designated country. Therefore, if your business plans on bidding on government contracts, you must ensure that your products or services are manufactured or transformed in one of the countries listed under the TAA.

Moreover, being listed on the TAA countries list signifies that there are trade agreements and opportunities for businesses in the United States to export their products or services to these countries without paying additional taxes or tariffs.

In conclusion, being aware of the countries listed under the TAA is essential for businesses that are looking to participate in government contracting, as well as those looking for opportunities to expand their business through international trade. Understanding the different agreements that the United States has with these countries is also crucial in navigating the often complex world of international trade.