Look up tariffs for imports and exports between free-trade partners online
The International Trade Administration (ITA) has a new online tool that’s handy for looking up tariff information on 85% of the goods going to 20 country markets with which the US has negotiated a free trade agreement (FTA), Colombia, Korea and Panama included.
The idea behind FTAs is to negotiate favorable tariff treatment for US exports from, and so promote sales into, the trading-partner market (while extending similar liberal terms to imports from the partner to the FTA). The free-trade ideal is duty-free, but the reality is rarely so simple. Typically, duties are eliminated and access to markets expanded gradually over time.
You can use the new FTA tariff tool to check on currently applicable tariffs and degree of market access as well as phase-in schedules. Look up products by tariff code or keywords. You can also get a snapshot of the value of trade in either or both directions and the prevailing average tariff by HTS code.
Try the new tool here.
Date posted: May 19, 2011