Are Tariffs Affecting Panama’s Imports and Exports?
Panama exporters call for a review of tariffs with the US – Products enter with zero tariffs, yet Panama faces a 10% tariff despite the current bilateral FTA.
The United States tariff policy has undergone several modifications since it was announced in April of this year, with several extension periods for its entry into force for some countries and markets. Products entering the U.S. market from economies like Panama are being taxed at a rate of 10%, and in some cases, this rate increases to 14% due to additional costs. The export industry has called for an urgent review of trade relations between the two countries, considering that there is a Trade Promotion Agreement (TPA) that should ensure fairness and reciprocity between Panama and the United States.
