The trade agreement database is provided by itC`s Market Access Card. With hundreds of free trade agreements currently in place and under negotiation (around 800 under ITC`s Rules of Origin Facilitator, including non-reciprocal trade agreements), it is important for businesses and policymakers to keep an eye on their status. There are a number of custodians of free trade agreements that are available at the national, regional or international level. Among the most important are the Latin American Integration Association (LAIA) database on Latin American free trade agreements[23], the database of information agreements of Asian countries managed by the Asian Centre for Regional Integration (ARIC)[24] and the portal on European Union negotiations and free trade agreements. [25] Few issues divide economists and the general public as much as free trade. Research suggests that economists at U.S. universities are seven times more likely to support free trade policies than the general public. In fact, the American economist Milton Friedman said, “The economic profession was almost unanimous about the desirability of free trade.” Documenting a product`s origin or compliance with the rules of origin can make using the tariffs negotiated with the free trade agreement a little more complicated. However, these rules help ensure that U.S. exports, rather than exports from other countries, reap the benefits of the agreement. Since WTO Members are required to submit their free trade agreements to the Secretariat, this database is based on the official source of information on free trade agreements (referred to as regional trade agreements in WTO language). The database allows users to obtain information on trade agreements notified to the WTO by country or by theme (goods, services or goods and services). This database provides users with an updated list of all existing agreements, but those that have not been notified to the WTO may be missing.

It also presents reports, tables and graphs containing statistics on these agreements and, in particular, on the analysis of preferential tariffs. [26] Free trade agreements, which form free trade areas, are generally outside the scope of the multilateral trading system. However, WTO Members must inform the Secretariat when concluding new free trade agreements and, in principle, the texts of free trade agreements are submitted to the Committee on Regional Trade Agreements for consideration. [11] Although a dispute in free trade areas is not the subject of a dispute before the WTO Dispute Settlement Body, “there is no guarantee that WTO panels will comply with it and refuse to exercise jurisdiction in a particular case.” [12] Unlike a customs union, parties to a free trade agreement do not maintain common external tariffs, which means that they apply different tariffs and other policy areas towards non-members. This feature creates the opportunity for non-parties to take advantage of stowaway preferences under a free trade agreement by entering the market with the lowest external fares. Such a risk requires the introduction of rules for the determination of originating products eligible for preferences under a free trade agreement, a necessity that does not arise in the formation of a customs union. [20] In principle, there is a requirement of a minimum level of processing leading to a “substantial transformation” of the goods in order for them to be considered as originating products. In defining which goods are products originating in the PTA, the preferential rules of origin distinguish between originating and non-originating products: only the former are entitled to the preferential duties provided for in the Free Trade Agreement, the latter must pay most-favoured-nation customs duties. [21] Not surprisingly, financial markets see the other side of the coin.

Free trade is an opportunity to open up another part of the world to domestic producers. The U.S.-Chile Free Trade Agreement (FTA) provides for lower tariffs on certain goods originating in and traded between the United States and Chile. The Chilean importer is responsible for claiming preferential treatment for a particular shipment at the time of customs clearance. (Under the U.S.-Chile Free Trade Agreement, the ultimate responsibility for the validity of the claim rests with the importer, not the exporter, as is the case with NAFTA.) To benefit from the preferential duty rate, the importer must submit a written declaration to Chilean Customs, which may or may not take the form of a certificate of origin. At the international level, there are two important freely accessible databases developed by international organizations for policymakers and businesses: Conditions for Goods Benefiting from Duty-Free or Reduced Duty-Free Tariffs under Preferential Treatment: The U.S.-Colombia Free Trade Agreement (FTA) entered into force on May 15, 2012. On the day of implementation, more than 80 percent of U.S. industrial goods exports to Colombia were duty-free, including agricultural and construction equipment, construction products, aircraft and parts, fertilizers, computer equipment, medical and scientific equipment, and wood. .