Panama Free Trade Agreement
Many in Congress oppose the Panama FTA because it is a Bush hangover NAFTA-style agreement that reflects the priorities of that administration's corporate backers, rather than the fair-trade reform agenda that American voters backed by electing Barack Obama.
Unfortunately, President Obama has reversed course on his campaign commitments, and sent the Panama FTA to Congress on October 3, 2011.
A long list of labor, consumer, environmental, faith, family-farm and other organizations oppose the Panama FTA because of the agreement's actual NAFTA-replicating terms.
However, the problems with the notion of a U.S. FTA with Panama extend beyond what is contained in the pact's text. Despite Panama's status as one of the world's top venues for tax evasion and money laundering, the FTA does not remedy Panama's problems with tax evasion and money laundering. In fact, if the Panama FTA were adopted, it would make these matters of bipartisan concern worse.
Reports and Memos | Press Room | Congress Speaks Out | Other Resources
- Statement: Panama Papers Leak Proves FTA Has Done Nothing to End Country’s Financial Crime, Highlights False Promises Used to Sell Pact (April 4, 2016)
- Prosperity Undermined: The Status Quo Trade Model's 21-Year Record of Massive U.S. Trade Deficits, Job Loss and Wage Suppression (August 20, 2015)
- Broken Promises: Outcomes of Korea, Colombia and Panama FTAs (July 2, 2015)
- Updated Chart: Table of Foreign Investor-State Cases and Claims under NAFTA and Other U.S. "Trade" Deals (April 30, 2015)
- Investor Rules Not Fixed by Preamble Change (June 14, 2011)
- The Colombia-Korea-Panama Trade Pact Trifecta (May 5, 2011)
- Reporters' Memo: USITC Trade Data Shows Obama Goal of Doubling Exports Is Even More Remote Relative to Census Bureau Data, Due in Part to Falling Exports under FTAs with Korea, Colombia and Panama (February 11, 2013)
- Reporters' Memo: Tomorrow's Census Bureau 2012 Trade Data Will Include Foreign-Made "Re-exports" but Even with Inflated Data, Obama Goal of Doubling Exports in Five Years Lags (February 7, 2013)
- Halloween Start for Panama FTA Means Tricks, No Treats for 99% as Panama Makes Top Tax Haven List and Job-Killing FTA Deficits Rise (October 30, 2012)
- Contrary to Obama's Claim, the Three U.S. Free Trade Agreements Passed a Year Ago Today Have not Boosted U.S. Exports (October 12, 2012)
- Job-Killing Trade Deals Pass Congress Amidst Record Democratic Opposition (October 12, 2011)
- Obama Shifts Away from Jobs Message to Promote Bush-Signed Trade Pacts Projected by Official Government Studies to Increase Trade Deficit (October 11, 2011)
- Obama Just Flip-Flopped Right off the Trade Cliff; Congress Must Slam on the Brakes (October 3, 2011)
- As Obama Meets with Panama's President Martinelli, U.S.-Panama Trade, Tax Agreement Folly Comes into Focus (April 28, 2011)
- Panama's Ratification of a Loophole-Ridden Tax Agreement Does Not Make U.S.-Panama Trade Deal Acceptable (April 14, 2011)
- U.S.-Panama FTA Would Allow Offshore Companies to Attack U.S. Anti-Tax Haven Regulations; Meanwhile Panama Has Not Eliminated Financial Secrecy, Tax Haven Problems (March 30, 2011)
- U.S.-Panama Tax Pact Just the Beginning of Changes Needed for U.S.-Panama Trade Deal to Gain Broad Support (November 30, 2010)
- Reporters' Memo: To Clean Up Tax Havens, Panama Must Go Beyond "Swiss Cheese" (April 6, 2009)
- Building Trades Workers Oppose Korea, Colombia, and Panama FTAs (June 27, 2011)
- United Steelworkers Oppose Korea, Colombia and Panama FTAs (June 20, 2011)
- Teamsters Letter Opposing the Korea, Colombia and Panama FTAs (2011) (June 15, 2011)
- League of United Latin American Citizens (LULAC) oppose Colombia, Panama, and South Korea Free Trade Agreements (July 17, 2010)
- Op-ed: Rep. Mike Michaud in The Hill: Stop pursuit of Panama trade pact (March 24, 2010)
GTW video revealing the ease of tax evasion and money laundering between the U.S. and Panama under the Panama FTA.