Bahrain Since its implementation in August 2006, the U.S.-Bahrain Free Trade Agreement has increased export opportunities for the U.S. economy. U.S. exports to Bahrain, which totaled $652.3 million in 2016, have been consistently higher since the free trade agreement came into force. Bilateral merchandise trade reached $1.2 billion in 2016, an increase of 61 percent since 2005. USTR Bahrain FTA Page » There are 14 free trade agreements with 20 countries: Australia, Bahrain, Chile, Colombia, Israel, Jordan, Korea, Morocco, Oman, Panama, Peru, Singapore; DR-CAFTA (Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua); and NAFTA (Canada and Mexico). South Korea The Free Trade Agreement (KORUS-FTA) entered into force on 15 March 2012. Korea is the U.S. sixth-largest trading partner with two-lane merchandise trade worth about $84.3 billion in 2016. U.S. exports to Korea were estimated at $30.7 billion, while imports from Korea amounted to $53.5 billion this year. USTR South Korea FTA Page » Jordan Since the implementation of the U.S.-Jordan Free Trade Agreement in December 2001, bilateral merchandise trade between the United States and Jordan has increased by more than 350 percent, from $568 million in 2001 to more than $2 billion in 2016. USTR US-Jordan FTA Page » A free trade agreement is an agreement between two or more countries in which countries agree on certain obligations that affect, among other things, trade in goods and services, investor protection, and intellectual property rights.
For the United States, the main objective of trade agreements is to reduce barriers to U.S. exports, protect U.S. competing interests abroad, and improve the rule of law in FTA partner countries. Removing barriers to trade and creating a more stable and transparent trade and investment environment makes things easier and cheaper for the United States. Companies to export their products and services to commercial markets. Starting with the government of Theodore Roosevelt, the United States has become a major player in international trade, especially with its neighboring territories in the Caribbean and Latin America. . .