ITC: BENEFITS OF U.S.-JORDAN FREE TRADE AGREEMENT “INSIGNIFICANT”
ITC: BENEFITS OF U.S.-JORDAN FREE TRADE AGREEMENT “INSIGNIFICANT”
The International Trade Commission said U.S. exporters and importers would benefit little from a U.S.-Jordan free trade agreement.
The government’s independent fact-finding agency made the announcement in a published report, Economic Impact on the United States of a U.S.-Jordan Free Trade Agreement. The study was conducted on behalf of the U.S. Trade Representative.
United States exports to Jordan amounted to $279 million in 1999, representing 0.04 percent of $642 billion in total U.S. exports.
Major U.S. exports to Jordan were wheat, rice, corn and machinery.
Last year, the United States imported about $1 trillion in goods worldwide, but only $31 million from Jordan. U.S. imports from Jordan were mostly carpets, apparel, antiques and jewelry.
“Any sectorial increases in U.S. exports to Jordan or U.S. imports from Jordan from tariff elimination would be insignificant relative to the total volume of U.S. exports and U.S. imports,” the ITC said.
