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This study analyzes the impact of the U.S.–Panama Trade Promotion Agreement (TPA) on the competitiveness of the Panamanian rice sector during the period 2012–2024. Using a quantitative, non-experimental, and cross-sectional design, data were collected from 80 rice producers and international trade experts through a structured Likert-scale questionnaire. Statistical techniques, including Cronbach’s alpha, Pearson and Spearman correlations, and linear regression analysis, were applied. The results show a positive and statistically significant relationship between the TPA and rice sector competitiveness (r = 0.687), with a moderate explanatory capacity (R² = 0.497). These findings suggest that trade liberalization has influenced competitiveness dynamics, although not as a sole determining factor. The discussion highlights that competitiveness is shaped by multiple structural variables, including productivity, technological capacity, irrigation infrastructure, subsidies and public policy frameworks. This study contributes to the literature by providing empirical evidence on the effects of trade liberalization in a sensitive agricultural sector within a developing country context.