Professional Documents
Culture Documents
Source:
U.S.
Department
of
Commerce
Upon implementation of the CTPA, more than 48 percent of Marylands exports to Colombia will be duty free. This tariff elimination gives Maryland exporters a cost advantage of up to $3.2 million over s imilar products exported by competitors who do not have an FTA with Colombia. While Maryland exporters typically face tariffs of 10-15 percent, 94 percent of Colombias exports to the United States in 2010 entered duty free. CTPA would level the playing field for Maryland exporters.
Estimated Increases in U.S. Exports in Sectors Important to Maryland Primary Metal Products Processed F oods Chemicals Transportation Equipment Machinery Computers & Electronics 44.3% 36.2 22.6 16.1 14.9 8.0
Value
of
Exports
Potential
Product
to
Colombia
(2010)
Duty
Savings
Antennas
$2,429,372
up
to
$364,406
Pharmaceutical
lab
materials
2,239,831
111,992
Revolvers
&
pistols
1,734,613
346,923
Aircraft
engines
&
parts
1,491,476
up
to
149,148
Micro-organisms
1,318,797
65,940
Pneumatic
hand
tools
1,276,000
up
to
191,400
1,254,319
62,716
Paper
scraps
Electrical
equipment
1,119,296
167,894
1,096,000
109,600
Tamping
machines
Electric
tools
1,041,402
156,210
COMPANIES
WHOSE
EXPORTS
BECOME
DUTY
FREE
IMMEDIATELY
UPON
IMPLEMENTATION
OF
CTPA
Thermal
Dynamics
Intl.,
Monkton,
Titan
Steel
Corp.,
Baltimore,
exports
exports
container
bags
to
Colombia
unwrought
a luminum
to
Colombia
that
face
tariffs
of
20
p ercent.
that
faces
tariffs
of
5
p ercent.
Mack
Truck,
Elkridge,
exports
battery
parts
to
Colombia
that
face
tariffs
of
5
percent.
Canusa
Hershman
Recycling,
Baltimore,
exports
recycled
paper
to
Colombia
that
faces
tariffs
of
5
percent.
Geodis
Wilson
USA
Inc.,
Hanover,
Mercy
Health
Foundation,
Baltimore,
exports
tamping
machines
to
exports
medical
equipment
to
Colombia
that
face
tariffs
of
10
Colombia
that
faces
tariffs
of
5-10
percent.
percent.
Contact:
David
Thomas,
Director,
Public
Policy,
Business
Roundtable
202.496.3262,
dthomas@brt.org