The United States and Jordan signed a mutual trade agreement today that will eliminate long-standing trade barriers and expand opportunities for American exporters.
This is stated in a document published on the White House website.
"The agreement will cement commitments to strengthen peace, expand regional cooperation, and enhance supply chain resilience and innovation through commitments to jointly counter non-market policies of third countries and cooperate on investment security, export controls, and customs duty evasion," the statement said.
Today's announcement will help build a future of peace, prosperity, and investment in the region, while securing historic commitments from Jordan on behalf of American manufacturers, farmers, ranchers, and other producers.
Key terms of the deal include duty-free access to the Jordanian market for virtually all American goods, compliance with environmental laws, protection of labor rights, enhanced intellectual property protection, ensuring fair trade practices, and improving customs procedures.
Jordan will also eliminate non-tariff trade barriers and expand market access for American goods, including U.S. agricultural products and American-made automobiles.
Under bilateral agreements, Royal Jordanian Airlines will purchase six Boeing 787-9 aircraft worth $1.4 billion, as well as additional aircraft worth $500 million, and Hikma Pharmaceuticals will invest $1 billion in the United States. Jordanian companies also agreed to purchase more than $300 million worth of raw materials from the United States annually.