Panama

The other direction

What America sells to Panama

$8.9B in 2025 — a trade rupture cuts both ways, for American producers as well as American prices.

Policy in motion

Tariff status: a moving target

No U.S. tariff action names Panama. These are the universal measures — applied to every country without a country-specific arrangement — that set its treatment.

1. 2026-04-06

   Section 232 metals coverage expanded

   In effect

   The April 2026 proclamation strengthening Section 232 actions on aluminum, steel, and copper expanded derivative-product coverage for all countries, keeping the general metals rate at 50%.

   91 FR 18201 →

2. 2026-02-24

   IEEPA reciprocal tariffs terminated — replaced by 10% Section 122 surcharge

   In effect

   Executive Order 14389 (Ending Certain Tariff Actions) terminated the IEEPA tariff duties — including the EO 14257 reciprocal baseline — effective February 24, 2026. A flat 10% Section 122 temporary import surcharge (Proclamation 11012 of February 20, 2026) replaced them, leaving the universal rate unchanged at 10% on a different statutory basis. Section 122 caps such surcharges at 150 days, so this 10% surcharge is scheduled to lapse on or about July 23, 2026 absent further action (the administration has signaled it could raise the rate toward the 15% statutory maximum).

   91 FR 9437 →

3. 2025-11-13

   Agricultural products exempted from reciprocal tariffs

   In effect

   Executive Order 14360 of November 14, 2025 removed reciprocal duties from certain agricultural products listed in its annexes (coffee, cocoa, bananas, and other goods the U.S. does not produce in sufficient quantity), retroactive to November 13, 2025 — for all countries subject to the reciprocal tariff.

   90 FR 54091 →

4. 2025-06-04

   Section 232 steel and aluminum duties doubled to 50%

   In effect

   The June 3, 2025 proclamation raised Section 232 duties on steel and aluminum articles and derivatives from 25% to 50% for all countries, effective June 4, 2025.

   90 FR 24199 →

5. 2025-04-05

   Universal 10% reciprocal baseline takes effect

   In effect

   Executive Order 14257 (signed April 2, 2025) imposed a 10% ad valorem reciprocal duty on imports from all trading partners, effective April 5, 2025. Countries without a higher Annex I rate remain at this baseline.

   Federal Register · 2025-06063 →

6. 2025-03-12

   Section 232 steel and aluminum duties set at 25% for all countries

   In effect

   Proclamations of February 10, 2025 terminated all country exemptions and quota arrangements and applied 25% Section 232 duties to steel and aluminum imports from every country, effective March 12, 2025.

   90 FR 9817 →

Reference

The country itself

Central America N Caribbean · Geography, people, economy, and government — public-domain data from the CIA World Factbook.

Explored and settled by the Spanish in the 16th century, Panama broke with Spain in 1821 and joined a union of Colombia, Ecuador, and Venezuela that was named the Republic of Gran Colombia. When the union dissolved in 1830, Panama remained part of Colombia. With US backing, Panama seceded from Colombia in 1903 and promptly signed a treaty with the US allowing for the construction of a canal and US sovereignty over a strip of land known as the Panama Canal Zone on either side of the structure. The US Army Corps of Engineers built the Panama Canal between 1904 and 1914. In 1977, an agreement was signed for the complete transfer of the Canal from the US to Panama by the end of the century. Certain portions of the Zone and increasing responsibility over the Canal were turned over in the subsequent decades. With US help, Panamanian dictator Manuel NORIEGA was deposed in 1989. The entire Panama Canal, the area supporting the Canal, and remaining US military bases were transferred to Panama by the end of 1999. An ambitious expansion project to more than double the Canal's capacity by allowing for more Canal transits and larger ships was carried out between 2007 and 2016.