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ARTICLE · 15 FEBRUARY 2013

Free Trade Agreement Updates For 2012

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A discussion on the most recent trade agreements between the U.S. and its international trade allies.

United StatesGovernment, Public Sector
David Gallacher
David Gallacher
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2012 saw several updates with regard to free trade agreements ("FTAs") between the U.S. and its international trading allies. The most notable of these was the U.S.-Korea FTA ("KORUS"), but several other changes were made to the U.S. procurement regulations implementing other free trade agreements. Regrettably, negotiations with China remain stalled with no firm promises on the horizon. Following is a summary of some of the key changes over the last year.

New Designated Countries

During 2012, three countries were added to the list of "designated countries" under the Trade Agreements Act ("TAA"). The changes, at Federal Acquisition Regulation ("FAR") 25.003 and Defense Federal Acquisition Regulation Supplement ("DFARS") 225.003, are as follows:

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