TITLE

Moves Made To Finalize CAFTA

AUTHOR(S)
Mayberry, Peter; Franken, Jessica
PUB. DATE
April 2004
SOURCE
Nonwovens Industry;Apr2004, Vol. 35 Issue 4, p26
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article focuses on the implications of the U.S.-Central America Free Trade Agreement for the nonwovens industry. To get a better sense of just what a U.S.-Central America Free Trade Agreement (CAFTA) might mean to the industry it is important to review provisions of the agreement, two of the more significant ones being the tariff elimination schedules and the rules of origin. According to the Office of the U.S. Trade representative, duties will be immediately removed on more than 80 percent of U.S. exports of consumer and industrial products to the five CAFTA countries as soon as the agreement is ratified, and 85 percent will be duty-free within five years. With regard to the Rules of Origin for textiles and apparel, CAFTA primarily uses a 'yarn-forward' tariff-shift rule, similar to the one used in the North American Free Trade Agreement. This essentially means the yarn used to form the fabric must originate in a CAFTA country in order for the finished good to qualify for free trade benefits.
ACCESSION #
13159577

 

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