U.S – Panama Agreement Moves Forward

As reported here last week, Panama was working to resolve the tax and labor issues so that the U.S. – Panama agreement could move forward within a few weeks. The U.S. – Panama Tax Information Exchange Agreements (TIEA) and labor law changes were the last two issues standing in the way of moving the agreement forward.  On April 18^th, U.S. Trade Representative Ron Kirk announced that the tax and labor issues have been resolved and the U.S. – Panama Trade Promotion Agreement was ready for discussion with Congress.  The next step is for the USTR to work with Congress to draft the implementing bill and Statement of Administrative Action.  The goal is to see the Panama, Columbia and South Korean trade agreements pass by July 2.