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    Nafta 1

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    The document summarizes key aspects of the North American Free Trade Agreement (NAFTA): 1) NAFTA was signed in 1992 and came into effect in 1994, replacing a prior trade agreement between Canada and the US. It aims to eliminate barriers to trade and investment between the US, Mexico, and Canada. 2) NAFTA created a single integrated market between the three countries worth $6.5 trillion annually. The US is the largest trading partner for both Canada and Mexico, accounting for over 80% of Canada's exports and imports and around 10% of US trade. 3) For a good to qualify for preferential NAFTA tariff treatment, it must meet specific rules of

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    Nafta 1

    Uploaded by

    api-522706
    183 views15 pages
    The document summarizes key aspects of the North American Free Trade Agreement (NAFTA): 1) NAFTA was signed in 1992 and came into effect in 1994, replacing a prior trade agreement between Canada and the US. It aims to eliminate barriers to trade and investment between the US, Mexico, and Canada. 2) NAFTA created a single integrated market between the three countries worth $6.5 trillion annually. The US is the largest trading partner for both Canada and Mexico, accounting for over 80% of Canada's exports and imports and around 10% of US trade. 3) For a good to qualify for preferential NAFTA tariff treatment, it must meet specific rules of

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    NAFTA 1

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    The document summarizes key aspects of the North American Free Trade Agreement (NAFTA): 1) NAFTA was signed in 1992 and came into effect in 1994, replacing a prior trade agreement between Canada and the US. It aims to eliminate barriers to trade and investment between the US, Mexico, and Canada. 2) NAFTA created a single integrated market between the three countries worth $6.5 trillion annually. The US is the largest trading partner for both Canada and Mexico, accounting for over 80% of Canada's exports and imports and around 10% of US trade. 3) For a good to qualify for preferential NAFTA tariff treatment, it must meet specific rules of

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    183 views15 pages

    Nafta 1

    Uploaded by

    api-522706
    The document summarizes key aspects of the North American Free Trade Agreement (NAFTA): 1) NAFTA was signed in 1992 and came into effect in 1994, replacing a prior trade agreement between Canada and the US. It aims to eliminate barriers to trade and investment between the US, Mexico, and Canada. 2) NAFTA created a single integrated market between the three countries worth $6.5 trillion annually. The US is the largest trading partner for both Canada and Mexico, accounting for over 80% of Canada's exports and imports and around 10% of US trade. 3) For a good to qualify for preferential NAFTA tariff treatment, it must meet specific rules of

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    North American Free Trade

    Agreement.
     Signed Dec. 17, 1992.
     Came into effect January 01, 1994
     Replaced “Free Trade Agreement” between
    Canada and the USA.
     Agreement removes most barriers to trade
    and investment among the United States,
    Mexico and Canada.
     U.S., Canada and Mexico are considered a
    single, giant, integrated market, $6.5 Trillion
    worth of goods traveling between the three
    countries
    North American Free Trade
    Agreement.
     U.S. is Canada’s largest trade partner.
    83.7% of Canada’s exports
    71.5% of Canada’s imports
     U.S. is Mexico’s largest trade partner
    10% of US Exports
    10% of US Imports
    North American Free Trade
    Agreement.
    North American Free Trade
    Agreement.
     Goods have to qualify to be considered
    eligible for NAFTA.
     In order to qualify a NAFTA Certificate must
    be completed.
     In order to complete a NAFTA Certificate, the
    rules of origin must be examined for that
    good,
     The rules of origin are set out in Annex 401B
    of the NAFTA agreement.
    North American Free Trade
    Agreement.
     The rules of Origin follow the
    Harmonized Tariff.
     The H.S. # of the good being examined
    is looked up in Annex 401B, and the
    rule that must be followed is stated.
     If the rule has been followed, the good
    qualifies.
    North American Free Trade
    Agreement.
     NAFTA is a specific “Tariff Treatment”
    into Canada.
     In order to use NAFTA (duty free) a
    Correct completed NAFTA Certificate of
    Origin must be in the importers hands
    at time of customs clearance.
     That NAFTA Certificate must be correct.
    Definitions

    Territories

    Canada

    Mexico: Includes Guadalupe & Revillagigedo

    United States: Includes Washington D.C. and


    Puerto Rico
    Definitions.

    Good

    A good is the item which is crossing the border


    that is being examined to see if it qualifies
    for NAFTA or not.

    Anything crossing the border is a good


    Definitions.

    Material

    A good that is used in the production of


    another good, and includes a part or an
    ingredient.
    Definitions.

    Good or Material
    Definitions.

    Good or Material
    Definitions.

    Good or Material
    Definitions

    Originating

    Means a good or material qualifying


    under the rules or Origin set out in
    Chapter Four (Rules of Origin)
    Definitions

    Non- originating

    A good or material that does not qualify


    as originating under Chapter 4.

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