- Duty-free access for high quality beef (Choice & Prime) and duties of 30 percent are phased to zero over 15 years for all other muscle cuts
- Beef variety meats: duties of 15 percent fall to zero immediately for some items, others phased to zero over 5 years
- $5.5 million in additional exports (2010 exports valued at $3.6 million)
- Proposed Beef Tariff Schedule
2010 U.S. pork and variety meat exports to Panama totaled $10.4 million. They could essentially double with the FTA, surpassing $20 million by 2016.
The FTA would mean:
- Duties of 60 percent to 70 percent on most cuts eliminated through duty-free TRQ, starting at 1,600 metric tons
- Duties of 15 percent on bacon, cured hams and pig fat eliminated through duty-free TRQ starting at 636 metric tons
- Duties of 30% and 15% on prepared/preserved items eliminated through duty-free TRQ starting at 318 metric tons
- Each TRQ volume increases annually until reaching unlimited duty-free volumes by year 15
- U.S. is largest supplier to this $25 million pork market, followed by Denmark and Canada.
- Canada has also negotiated an FTA with Panama, with a similar agreement on pork, pending implementation