Trade and U.S. trade agreements have a proven record of promoting U.S. economic growth and jobs. They open markets for American companies and workers, create rules to ensure fair trade between the U.S. and other countries and ensure access to fairly traded U.S. imports for businesses, farmers and consumers.
The United States has some of the lowest trade barriers in the world. Trade agreements level the playing field by lowering other nations’ trade barriers, opening up foreign markets to U.S. exports and setting strong, enforceable rules for trade between the United States and those other countries.
The United States has increased its exports to FTA partners following implementation of the FTAs with those countries:
In 2016, $676 billion of U.S. goods exports, or 47 percent, went to FTA partners.
In 2016, FTA partners purchased 12.6 times more goods per capita from the United States than non-FTA partners.
In 2016, $176 billion of U.S. services exports, or 23 percent, went to FTA partners.
U.S. exports to Canada and Mexico have increased by $354 billion (250 percent) since NAFTA went into effect in 1994.
U.S. exports to Chile have increased by 376 percent since the U.S.-Chile FTA took effect in 2004.
U.S. exports to Singapore of medical equipment have increased from $170 million to $1.0 billion, or by 497 percent, since the FTA with Singapore went into effect in 2004.
South Korea bought 15 percent of U.S. exports of industrial machinery in 2016.
Business Roundtable and its member companies support modern trade policies that prioritize American interests without sacrificing global relationships.
