Check here to understand the impact of each trade agreement currently in development.

A free trade agreement is a pact between two or more countries to eliminate tariff and nontariff barriers affecting trade among themselves, while each participating country applies its own independent schedule of tariffs to imports from countries that are not members.

• Multilateral Trade Negotiations
• Completed Bilateral/Regional Free Trade Agreements
• Agreements Under or Pending Negotiation
• Agreements Pending Congressional Approval

Not sure of all the steps a trade agreement takes as it’s considered by Congress?  Check out this chart – it walks you through the “fast track” process.