CBLE Trade Agreements and Free Trade Programs Flashcards
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Which agreement replaced NAFTA and governs trade between the United States, Canada, and Mexico?
Answer: USMCA
The United States-Mexico-Canada Agreement (USMCA) replaced NAFTA and entered into force on July 1, 2020.
Under the Generalized System of Preferences (GSP), which form is required to claim duty-free treatment for eligible goods?
Answer: Form A
Form A (Certificate of Origin) is the document used to claim GSP duty-free treatment for eligible beneficiary developing countries.
What is the primary criterion used to determine origin under USMCA for most goods?
Answer: Tariff shift rule
USMCA primarily uses tariff classification change (tariff shift) rules to determine if goods qualify as originating.
Which U.S. free trade agreement partner receives duty-free treatment under the Israel FTA for most goods?
Answer: Israel
The U.S.-Israel Free Trade Agreement, in force since 1985, provides duty-free treatment for most goods traded between the two countries.
Under USMCA's de minimis rule, what percentage of non-originating content is allowed without triggering a tariff shift requirement?
Answer: 10%
USMCA allows a de minimis tolerance of 10% of the transaction value or weight of non-originating materials that do not undergo the required tariff shift.
CAFTA-DR covers free trade between the United States and which group of countries?
Answer: Central America and Dominican Republic
CAFTA-DR (Central America Free Trade Agreement-Dominican Republic) includes Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic.