ACS and ACE Ready for Panama TPA Filings

November 12, 2012

U.S. Customs and Border Protection (CBP) recently announced that the system changes associated with the Panama Trade Promotion Agreement (Panama TPA) have been automated in ACS (EI) and ACE (AE). Filers can now submit their Panama TPA claims in ACS (EI) and ACE (AE).  The Panama Trade Promotion Agreement took effect on October 31, 2012. Modifications have also been made to the Harmonized Tariff Schedule of the United States to reflect the changes in the Panama TPA.

According to the Office of the U.S. Trade Representative (USTR), more than 86 percent of U.S. exports of consumer and industrial products and nearly half of agricultural commodities exported from the United States to Panama became duty-free immediately upon entry into force. Wheat, barley, soybeans, high-quality beef, bacon, and almost all fruit and vegetable products also became duty free on October 31^st, with most of the remaining agricultural tariffs to be phased out over the next 15 years. The list of consumer and industrial products that gained duty-free access to Panama on October 31^st includes information technology equipment, agricultural and construction equipment, aircraft and parts, medical and scientific equipment, environmental products, pharmaceuticals, and fertilizers. The Trade Promotion Agreement also provides access to Panama’s $20.6 billion services market.

Further information regarding system requirements for filing Panama TPA claims is available here.