The Ministry of Commerce and Industries (MICI) of Panama has implemented a special agricultural safeguard measure on certain USA pork products through Resolution No. 002 of April 2nd, 2019 of the National Directorate of International Trade Agreements and Trade Defence.
This special agricultural safeguard has been implemented for the second consecutive year as the import volume needed to activate this national production protection measure has been reached, in compliance with what was agreed in the current Commercial Promotion Agreement (CPA) between Panama and the USA.
With the implementation of this special safeguard measure, the imports of the USA products included are subject to an increase in import tariffs that are equivalent to the levels applicable before the effective date of the CPA, that are between 40% and 70% until the end of 2019, unlike those that would have to be paid based on the preferential tariffs applicable during 2019, that were between 31% and 54%.
Tuesday, April 2nd, 2019/ Ministry of Commerce and Industries/ Panama.