Free trade agreements or free trade agreements have many advantages and can sometimes be complex to understand. Find out what a free trade agreement is. Which countries does the United States have agreements with? How can your company benefit? What is the impact of free trade agreements on my company`s imports and/or exports? There are 14 free trade agreements with 20 countries: Australia, Bahrain, Chile, Colombia, Israel, Jordan, Korea, Morocco, Oman, Panama, Peru, Singapore; DR-CAFTA (Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua); and NAFTA (Canada and Mexico). Panama The Trade Promotion Agreement between the United States and Panama was signed in October 2011 and entered into force on October 31, 2012. The United States maintained a constant trade surplus with Panama under the agreement.