Free trade agreements have proven to be one of the best ways to open up foreign markets to U.S. exporters. The U.S. has agreements in force with 17 countries: Australia, Bahrain, Canada, Chile, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Jordan, Mexico, Morocco, Nicaragua, Oman, Peru, and Singapore. Agreements with three countries—Colombia, Panama, and South Korea—await Congressional approval. In 2007, trade with countries that the U.S. has free trade agreements was significantly greater than their relative share of the global economy: although comprising 7.5% of global GDP (not including the U.S.), those countries accounted for over 42% of U.S. exports.
Pending Free Trade Agreements
| Colombia | Panama | South Korea |
| Colombia Free Trade Agreement Documents | Panama Free Trade Agreement Documents | South Korea Free Trade Agreement Documents |
Free Trade Agreement Websites
