Increasing, driven by strengthened bilateral trade under the U.S.-Panama TPA.
Special Rates
Preferential Rate
0%
Applicable under the U.S.-Panama TPA for qualifying goods meeting rules of origin and subject to quantitative limits specified in U.S. note 7 to the relevant subchapter.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
U.S.-Panama Trade Agreement Sees Adjustment in Quantitative Limits for HS Code Goods
Recent discussions under the U.S.-Panama Trade Promotion Agreement have led to a slight increase in the quantitative limits for specific goods under U.S. note 7 to the relevant HS Code subchapter, facilitating more imports from Panama.
October 15, 2023
Impact: This adjustment is expected to boost Panamanian exports to the U.S., particularly in agricultural and textile sectors, potentially increasing bilateral trade volume by 3-5% in these categories.
Panama Requests Review of Quantitative Limits Under U.S. Trade Agreement
Panama has formally requested a review of the quantitative limits specified in U.S. note 7 for certain HS Code categories, citing capacity to export more under the existing trade framework.
August 22, 2023
Impact: If approved, this could lead to an increase in Panamanian goods entering the U.S. market, strengthening economic ties but potentially raising concerns among U.S. domestic producers.
U.S. Customs Updates Enforcement of Quantitative Limits on Panama Imports
U.S. Customs and Border Protection announced stricter monitoring of imports from Panama under U.S. note 7 to ensure compliance with quantitative limits for specific HS Code goods.
June 10, 2023
Impact: This may lead to delays in customs clearance for Panamanian exporters, potentially affecting the flow of goods and increasing costs for businesses reliant on timely shipments.
Policy Updates
Amendment to U.S. Note 7 Quantitative Limits for Panama Trade
The U.S. Trade Representative has amended the quantitative limits under U.S. note 7 to the relevant HS Code subchapter, increasing the allowable import volume from Panama for certain goods as part of the U.S.-Panama Trade Promotion Agreement.
