Stewart and Stewart, a 53-year-old Washington-based trade law and
government relations firm. His practice focuses on international trade,
notably trade remedies, litigation, negotiations, and customs law. He
has been involved in hundreds of trade remedy disputes in the United
States and litigation before the U.S. courts and dispute settlement
proceedings under bilateral, plurilateral, and multilateral agreements.
2100 M Street, N.W.
Suite 200
Washington, District of Columbia 20037
202.785.4185 Phone
202.466.1286 Fax
tstewart@stewartlaw.com
www.stewartlaw.com
signed into law legislation that imple-
ments three bilateral trade promotion or
free trade agreements (FTAs) with South
Korea, Colombia, and Panama, as well
as legislation that renews three trade
programs the Generalized System of
Preferences (GSP), the Andean Trade
Preference Act (ATPA), and Trade
Adjustment Assistance (TAA). Taken as
a whole, this legislation offers opportuni-
ties to American companies that export
or import goods and services to and
from Korea, Colombia, and Panama, to
American companies that import goods
from Andean countries and developing
countries, and to American companies
and workers adversely affected by for-
eign trade. The relevant legislation is:
Implementation Act (H.R. 3080;
P.L. 112-41)
Agreement Implementation Act
(H.R. 3078; P.L. 112-42)
Agreement Implementation Act (H.R.
3079; P.L. 112-43)
System of Preferences (H.R. 2832;
P.L. 112-40)
Preference Act (H.R. 3078;
P.L. 112-42)
Extension Act of 2011 (H.R. 2832;
P.L. 112-40)
free Trade agreements
the three free trade agreements has been
signed, the agreements themselves will
not enter into force until the President
determines that each country has
enacted measures to comply with the
agreements and formal diplomatic notes
have been exchanged. The earliest that
any of the three FTAs can enter into
force is January 1, 2012.
reduce tariffs once the agreements
come into force. For instance, over 80
percent of U.S. exports of consumer
and industrial products to Colombia
and Panama will become duty free
immediately, with remaining tariffs
phased out over 10 years. The U.S.-
Korea agreement will eliminate tariffs
on over 95 percent of industrial and
consumer goods within five years.
The agreements also reduce tariffs on
agricultural products.
Beyond tariff reduction, each of
the agreements improves protection
of intellectual property rights, creates
new opportunities for exporters through
establishment of non-discriminatory
treatment in government procurement,
and provides expanded access for
American companies to the services
markets of the respective FTA countries.
In addition, each of the FTAs
include chapters addressing rules of
origin, customs administration and trade
facilitation, technical barriers to trade,
investment, sanitary and phytosanitary
measures, technical barriers to trade,
telecommunications, electronic
commerce, labor rights, the environment,
trade remedies (including safeguards),
and dispute settlement.
The Obama Administration views the
Korea, Colombia, and Panama FTAs as
to Exporters, Importers and Workers