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    North American Free Trade Agreement (NAFTA)

    Overview of Nafta benefits.

    North American Free Trade Agreement (NAFTA)

    North American Free Trade Agreement (NAFTA) The U.S.-Mexico-Canada Agreement (USMCA) entered into force on July 1, 2020, replacing the North American Free Trade Agreement (NAFTA).  For information on USMCA, visit trade.gov/https://www.trade.gov/usmca.

    North American Free Trade Agreement (NAFTA)

    The North American Free Trade Agreement (NAFTA), which was enacted in 1994 and created a free trade zone for Mexico, Canada, and the United States, is the most important feature in the U.S.-Mexico bilateral commercial relationship. As of January 1, 2008, all tariffs and quotas were eliminated on U.S. exports to Mexico and Canada under the North American Free Trade Agreement (NAFTA).

    Mexico is the United States’ third largest trading partner and second largest export market for U.S. products.  In 2018, Mexico was our third-largest trading partner (after Canada and China) and second-largest export market. Two-way trade in goods and services totaled USD 678 billion, and this trade directly and indirectly supports millions of U.S. jobs. The United States sold USD 265 billion of U.S. products to Mexico in 2018 and USD 34 billion in services, for a total of USD 299 billion in U.S. sales to Mexico. Mexico is the first or second-largest export destination for 27 U.S. states.

    NAFTA provides coverage to services except for aviation transport, maritime, and basic telecommunications. The agreement also provides intellectual property rights protection in a variety of areas including patent, trademark, and copyrighted material. The government procurement provisions of the NAFTA apply not only to goods but to contracts for services and construction at the federal level. Additionally, U.S. investors are guaranteed equal treatment to domestic investors in Mexico and Canada.

    NAFTA allows your company to ship qualifying goods to customers in Canada and Mexico duty free. Goods can qualify in several ways under NAFTA’s rules of origin.This might be due to the products being wholly obtained or produced in a NAFTA party or because according to the product’s rule of origin there is sufficient amount of work and materials required in a NAFTA party to make the product become what it is when its exported.

    Rules of Origin

    For goods that are not wholly obtained, you must meet the product’s rule of origin, usually through Tariff Shift or Regional Value Content. Learn more about How to Read and Apply FTA Rules of Origin.

    The rules of origin (ROO) may be found in the final text of the FTA. Occasionally, a particular ROO may be revised.  For the most updated version of the ROOs consult the Harmonized Tariff Schedule of the United States, General Notes — General Note 33.

    In addition to the above rules of origin, there may be other ways to qualify your product: 

    Accumulation may allow the producer to reduce the value of the non-originating materials used in the production of the good.

    De Minimis allows the exporter to disregard a very small percentage of non-originating materials the do no meet a tariff shift rule.

    Direct Shipment are goods which must be shipped directly from one FTA party to another FTA party.

    Fungible Goods and Materials refers to goods or materials (components) that are interchangeable for commercial purposes and whose properties are essentially identical.

    Indirect Materials are goods used in the production, testing or inspection of a good but not physically incorporated into the good.

    Claiming/Documenting Origin

    Once you have determined that your product qualifies for NAFTA, read below section for how to declare that the product qualifies for preferential tariff treatment.

    NAFTA Certificate of Origin

    Key Tips:

    The exporter is responsible for filling out the NAFTA Certificate of Origin, not the importer.

    Once an exporter has determined the product qualifies for NAFTA, the exporter needs to fill out a NAFTA Certificate of Origin UNLESS the product going to Canada or Mexico is valued at LESS than $1,000 USD. In these cases, the exporter simply needs to make a written declaration on the commercial invoice stating that the product is NAFTA qualifying.

    Once the Certificate is completed, the exporter needs to send the original or a copy of the Certificate of Origin to the importer. It is recommended that a copy of the Certificate of Origin is also included with the shipment. The exporter is required to keep all documentation of NAFTA claims five years from the date of importation or such longer period as a Party may specify after the completion of the transaction.

    NAFTA Certificate of Origin (PDF from Customs and Border Protection).

    For more on completing a NAFTA Certificate of Origin, view Part one and Part two of the video series.

    Supporting Documentation

    The issuer of a written declaration of origin is required to have it available, in addition to other supporting documentation used in demonstrating that the good qualifies as originating under the NAFTA rules of origin, for a period of FIVE years from the date of importation of the good for products going to Canada and for a period of TEN years from the date of importation of the good for products going to Mexico.

    For more information on the NAFTA, please go to Chapter 6 of NAFTA Agreement: NAFTA Agreement: A Guide to Customs Procedures.

    Source : www.trade.gov

    North American Free Trade Agreement

    North American Free Trade Agreement

    From Wikipedia, the free encyclopedia

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    "NAFTA" redirects here. For other uses, see Nafta (disambiguation).

    See also: United States–Mexico–Canada Agreement

    North American Free Trade Agreement

    (Spanish) (French) 1994–2020

    Logo of the NAFTA Secretariat

    Languages

    EnglishSpanishFrench

    Type Free trade area

    Member states Canada

    Mexico United States History • Effective January 1, 1994 • USMCA in force July 1, 2020 Area • Total

    21,578,137 km2 (8,331,365 sq mi)

    • Water (%) 7.4 Population • 2018 estimate 490,000,000 • Density

    22.3/km2 (57.8/sq mi)

    GDP (PPP) 2018 estimate

    • Total $24.8 trillion[1] • Per capita $50,700

    Website

    www.naftanow.org

    NAFTA GDP – 2012 : IMF – World Economic Outlook Databases (Oct 2013)

    The North American Free Trade Agreement (NAFTA /ˈnæftə/; Spanish: , TLCAN; French: , ALÉNA) was an agreement signed by Canada, Mexico, and the United States that created a trilateral trade bloc in North America. The agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada.[3] The NAFTA trade bloc formed one of the largest trade blocs in the world by gross domestic product.

    The impetus for a North American free trade zone began with U.S. president Ronald Reagan, who made the idea part of his 1980 presidential campaign. After the signing of the Canada–United States Free Trade Agreement in 1988, the administrations of U.S. president George H. W. Bush, Mexican President Carlos Salinas de Gortari, and Canadian prime minister Brian Mulroney agreed to negotiate what became NAFTA. Each submitted the agreement for ratification in their respective capitals in December 1992, but NAFTA faced significant opposition in both the United States and Canada. All three countries ratified NAFTA in 1993 after the addition of two side agreements, the North American Agreement on Labor Cooperation (NAALC) and the North American Agreement on Environmental Cooperation (NAAEC).

    Passage of NAFTA resulted in the elimination or reduction of barriers to trade and investment between the U.S., Canada, and Mexico. The effects of the agreement regarding issues such as employment, the environment, and economic growth have been the subject of political disputes. Most economic analyses indicated that NAFTA was beneficial to the North American economies and the average citizen,[4][5][6] but harmed a small minority of workers in industries exposed to trade competition.[7][8] Economists held that withdrawing from NAFTA or renegotiating NAFTA in a way that reestablished trade barriers would have adversely affected the U.S. economy and cost jobs.[9][10][11] However, Mexico would have been much more severely affected by job loss and reduction of economic growth in both the short term and long term.[12]

    After U.S. President Donald Trump took office in January 2017, he sought to replace NAFTA with a new agreement, beginning negotiations with Canada and Mexico. In September 2018, the United States, Mexico, and Canada reached an agreement to replace NAFTA with the United States–Mexico–Canada Agreement (USMCA), and all three countries had ratified it by March 2020. NAFTA remained in force until USMCA was implemented.[13] In April 2020, Canada and Mexico notified the U.S. that they were ready to implement the agreement.[14] The USMCA took effect on July 1, 2020, replacing NAFTA. The new law involved only small changes.[15]

    Contents

    1 Negotiation, signing, ratification, and revision (1988–94)

    1.1 Negotiation 1.2 Signing 1.3 Ratification 1.3.1 Canada 1.3.2 United States 1.3.3 Mexico 2 Provisions

    2.1 Intellectual property

    2.2 Environment 2.3 Labor 2.4 Agriculture

    2.5 Transportation infrastructure

    2.6 Chapter 11 – investor-state dispute settlement procedures

    2.7 Chapter 19 – countervailing duty

    3 Adjudication 4 Impact 4.1 Canada

    4.1.1 Historical context

    4.1.2 Current issues

    4.2 Mexico 4.3 United States

    4.3.1 Trade balances

    4.3.2 Investment

    4.4 Economy and jobs

    4.5 Environment

    4.6 Mobility of persons

    5 Disputes and controversies

    5.1 1992 U.S. presidential candidate Ross Perot

    5.2 Legal disputes

    5.2.1 Change in income trust taxation not expropriation

    5.3 Impact on Mexican farmers

    5.4 Zapatista Uprising in Chiapas, Mexico

    5.5 Criticism from 2016 U.S. presidential candidates

    6 Policy of the Trump administration

    6.1 Renegotiation

    6.2 Impact of withdrawing from NAFTA

    7 Trans-Pacific Partnership

    8 American public opinion on NAFTA

    9 See also 10 References 11 Further reading 12 External links

    Negotiation, signing, ratification, and revision (1988–94)

    Negotiation

    The impetus for a North American free trade zone began with U.S. president Ronald Reagan, who made the idea part of his campaign when he announced his candidacy for the presidency in November 1979.[16] Canada and the United States signed the Canada–United States Free Trade Agreement (FTA) in 1988, and shortly afterward Mexican President Carlos Salinas de Gortari decided to approach U.S. president George H. W. Bush to propose a similar agreement in an effort to bring in foreign investment following the Latin American debt crisis.[16] As the two leaders began negotiating, the Canadian government under Prime Minister Brian Mulroney feared that the advantages Canada had gained through the Canada–US FTA would be undermined by a US–Mexican bilateral agreement, and asked to become a party to the US–Mexican talks.[17]

    Source : en.wikipedia.org

    North American Free Trade Agreement (NAFTA) Definition

    The North American Free Trade Agreement (NAFTA) was implemented in 1994 to encourage trade between the countries of United States, Mexico, and Canada.

    ECONOMICS MACROECONOMICS

    North American Free Trade Agreement (NAFTA)

    By WILL KENTON Updated July 28, 2021

    Reviewed by ERIC ESTEVEZ

    Fact checked by AMANDA BELLUCCO-CHATHAM

    What Is the North American Free Trade Agreement (NAFTA)?

    The North American Free Trade Agreement (NAFTA) was implemented to promote trade between the U.S., Canada, and Mexico. The agreement, which eliminated most tariffs on trade between the three countries, went into effect on Jan. 1, 1994. Numerous tariffs—particularly those related to agricultural products, textiles, and automobiles—were gradually phased out between Jan. 1, 1994, and Jan. 1, 2008.

    KEY TAKEAWAYS:

    The North American Free Trade Agreement (NAFTA) was implemented in 1994 to encourage trade between the U.S., Mexico, and Canada.

    NAFTA reduced or eliminated tariffs on imports and exports between the three participating countries, creating a huge free-trade zone.

    Two side agreements to NAFTA aimed to establish high common standards in workplace safety, labor rights, and environmental protection, to prevent businesses from relocating to other countries to exploit lower wages or looser regulations.

    The United States-Mexico-Canada Agreement (USMCA), which was signed on Nov. 30, 2018, and went into full force on July 1, 2020, replaced NAFTA.

    NAFTA was a controversial agreement: By some measures (trade growth and investment), it improved the U.S. economy; by others (employment, balance of trade), it hurt the economy.

    Understanding NAFTA

    NAFTA’s purpose was to encourage economic activity among North America's three major economic powers: Canada, the U. S., and Mexico. Proponents of the agreement believed that it would benefit the three nations involved by promoting freer trade and lower tariffs among Canada, Mexico, and the United States.

    During the 2016 presidential election, Donald Trump campaigned on a promise to repeal NAFTA and other trade agreements he deemed "unfair" to the United States.

    On Aug. 27, 2018, President Donald Trump announced a new trade deal with Mexico to replace NAFTA. The U.S.-Mexico Trade Agreement, as it was called, would maintain duty-free access for agricultural goods on both sides of the border and eliminate non-tariff barriers while also encouraging more agricultural trade between Mexico and the United States.

    On Sept. 30, 2018, this agreement was modified to include Canada. The United States-Mexico-Canada Agreement (USMCA) took effect on July 1, 2020, completely replacing NAFTA. If not renewed, the USMCA will expire in 16 years.

    A Sept. 30, 2018, joint press release from the U.S. and Canada Trade Offices stated:

    “USMCA will give our workers, farmers, ranchers, and businesses a high-standard trade agreement that will result in freer markets, fairer trade, and robust economic growth in our region. It will strengthen the middle class and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home."1

    History of NAFTA

    About one-fourth of all U.S. imports, such as crude oil, machinery, gold, vehicles, fresh produce, livestock, and processed foods, originate from Mexico and Canada, which are, respectively, the United States' second- and third-largest suppliers of imported goods, as of 2019.23 In addition, approximately one-third of U.S. exports, particularly machinery, vehicle parts, mineral fuel/oil, and plastics are destined for Canada and Mexico.4

    NAFTA legislation was developed during George H. W. Bush's presidency as the first phase of his Enterprise for the Americas Initiative. The Clinton administration, which signed NAFTA into law in 1993, believed it would create 200,000 U.S. jobs within two years and 1 million within five years because exports play a major role in U.S. economic growth. The administration anticipated a dramatic increase in U.S. imports from Mexico as a result of the lower tariffs.

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    What is NAFTA?

    Additions to NAFTA

    NAFTA's provisions were supplemented by two other regulations: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Labor Cooperation (NAALC). These tangential agreements were intended to prevent businesses from relocating to other countries to exploit lower wages, more lenient worker health and safety regulations, and looser environmental regulations.

    NAFTA did not eliminate regulatory requirements on companies wishing to trade internationally, such as rule-of-origin regulations and documentation requirements that determine whether certain goods can be traded under NAFTA. The free-trade agreement also contained administrative, civil, and criminal penalties for businesses that violate any of the three countries’ laws or customs procedures.

    North American Industry Classification System

    The three NAFTA signatory countries developed a new collaborative business-classification system that facilitates comparison of business activity statistics across North America. The North American Industry Classification System (NAICS) organizes and separates industries according to their production processes.

    The NAICS replaced the U.S. Standard Industrial Classification (SIC) system, allowing businesses to be classified systematically in an ever-changing economy. The new system enables easier comparability between all countries in North America. To ensure that the NAICS remains relevant, the system is reviewed every five years.

    Source : www.investopedia.com

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