U.S. PREPARES FOR ACCELERATED TARIFF ELIMINATION FOR MEXICAN IMPORTS
The U.S. government is preparing for an accelerated tariff elimination on certain Mexican imports under the North American Free Trade Agreement by Jan. 1.
The Office of the U.S. Trade Representative had consulted with the International Trade Commission and private sector trade advisory groups about the proposed tariff eliminations. A report was also submitted to the House Ways and Means and Senate Finance Committees.
The authority to proclaim any accelerated schedule for duty elimination that’s agreed upon by the United States, Canada and Mexico is spelled out in section 302(3) of the NAFTA. For trade between the United States and Canada, all duties subject to tariff reductions were eliminated on Jan. 1, 1998.
A list of products that the United States has agreed to accelerate tariff elimination, as well as a list for Mexico may be obtained on the Trade Representative’s Web site at http://ustr.gov under “World Regions/Western Hemisphere/North American Free Trade Agreement/NAFTA Reports and Publications.”