Chapter 13

Chapter 13 - International Trade Law Chapter 13 CHAPTER 13...

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International Trade Law Chapter 13 CHAPTER 13 NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA) LAW I. Regional Trade Agreements A. Regional Trade Agreements 1. Article 24 of GATT 1994, an exception to PNTR (Permanent Normal Trade Relations; used to be MFN: Most Favored Nations), permitted regional trade agreements 2. Regional trade had to be in GATT because EU already used them and regional trade agreements already exists 3. Ideally, regional trade agreement fosters global trade agreements B. Two basic types of regional trade agreements 1. Free Trade Agreements - an agreement between two or more states to eliminate tariffs or reduce non-tariff barriers (NTBs); US uses NAFTA 2. Customs Union - a free trade agreement and has a common external tariff II. NAFTA (North American Free Trade Agreement) A. CUSFTA (Canada-US Free Trade Agreement) of 1989 1. Predecessor to NAFTA 2. Canada’s economy was similar to US B. NAFTA (North American Free Trade Agreement) of 1994 general provisions 1. National Treatment - Non-discrimination policy towards foreign like-products; must treat foreign like-products the same as our own 2. Gradual elimination of tariffs by 2008; but has not happened 3. NTBs, non-tariff barriers, eliminated by 1999; currently there are still NTBs in 2008 4. Rules of Origin (What qualifies as a North American product) a. Any good or product wholly produced or obtain in North America exclusively
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This note was uploaded on 04/13/2008 for the course BUSI 177 taught by Professor Dhooge during the Spring '08 term at Pacific.

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Chapter 13 - International Trade Law Chapter 13 CHAPTER 13...

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