AEM Continues its Support for Free Trade Agreements

The Association of Equipment Manufacturers (AEM) has continued its support of bilateral trade agreements between the United States and important economic partners, and it is pleased with the recent signings of free trade agreements (FTAs) with Panama and with South Korea.

These significant bilateral agreements will open markets for off-road machinery manufacturers by eliminating most industrial equipment tariffs immediately and phasing out the remaining tariffs over 10 years.

Additionally, Panama and South Korea will allow the sale of remanufactured goods with the implementation of the agreements.

The signings of the Panama and South Korea agreements are critical to promote growth in all countries involved and to put U.S. companies on a level playing field to better compete in these markets.

The AEM urges Congress to enact legislation approving these recent agreements with Panama and South Korea as well as agreements signed with Peru and Columbia, so American manufacturers can benefit from these negotiations.

More information is available at www.aem.org.