Panamanian Products Shipped to the United States will now have a 10% Tariff

On Wednesday, April 2, 2025, U.S. President Donald Trump announced the imposition of a 10% tariff on all Panamanian products shipped to the United States.  According to data from Panama’s Ministry of Commerce and Industry, the total value of Panamanian exports to the United States in 2024 amounted to $264.6 million.  The most exported products were fish and shellfish, with a total of $78.6 million, representing 29.7% of exports. Sugars and confectionery products came in second place, with $50.7 million (19.1%), followed by stone, plaster, and cement products, which reached $45 million.  Ninety-five percent of Panamanian products are covered by the Trade Promotion Agreement (TPA) between Panama and the United States, according to statements made by Bianca Morán, president of the Panamanian Exporters Association (Apex). 

The measure is part of a broader strategy by Trump, who implemented “reciprocal” tariffs worldwide.  This has caused uncertainty among Panamanian exporters, who will evaluate the impact of the measure, according to Morán.  The FTA between the United States and Panama establishes the obligation not to increase existing tariffs or adopt new tariffs, unless otherwise provided in the agreement.  The document also indicates that each party was to gradually eliminate its tariffs, in accordance with the negotiated tariff reduction program.  APEX advisors indicated that since 95% of products are covered by the TPA, they would not be included in these new tariffs imposed by Donald Trump; but other analysts indicate that it is better to wait for the details of the measure to see its scope.