nafta and fta benefits: what you need to know
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NAFTA and FTA BenefitsWhat You Need To Know
What is NAFTA?North American Free Trade Agreement (NAFTA)
Began in 1994 between the United States, Canada and Mexico to promote and encourage trade between the three countries.
What is FTA?Free Trade Agreement (FTA)
Free Trade Agreements (FTAs) are negotiated between the U.S. and other countries to make it easier for importers and exporters to do business.
Importance of NAFTA and FTA
Why are NAFTA and FTAs important for importers?
Both agreements make importing into the U.S. faster and more successful.
NAFTA FAQs
NAFTA formed in 1994 to promote and encourage trade among the three partnering countries.
World’s largest free trade area making up more than 450 million peopleSince 1994, trade between the countries has risen from $297 billion to $1.14 trillion.Boosts U.S. economic growth by as much as .5% per year. (Agriculture, and auto sectors benefit the most)
Eliminates tariffs, reducing importer prices
Lowers food prices
Boosts U.S. economic growth as much as .5% per year
Boosts profits of U.S. businesses
Reduces government spending, creating a more level playing field for trading
NAFTA Benefits for Importers
FTA FAQs
FTAs are made between the U.S. and other countries to make it easier to do business.
Agree on rules that affect the trade of goods and services
Make it easier to do business while protecting interests for U.S. importers working abroad
Reduces or eliminates tariffs
Increases production by reducing tariffs
Reduces trade barrier, making it cheaper to import/export goods
Protect U.S. interests competing abroad
FTA Benefits for Importers
How Customs Brokers Can Help NAFTA and FTA benefits can be monitored for your import needs
with the guidance of a Customs Broker. Working with a Customs Broker is the best way to ensure your documents are correct, filed in a timely manner and are adhering to the rules and regulations.
AFC International will oversee NAFTA and FTAs while helping you through the entire import process. AFC can also assist Custom House Broker (CHB) customers with Harmonized
Tariff Schedule (HTS) classification requests.
1.800.274.2329http://[email protected]
Reference: http://www.afcinternationalllc.com/blog/what-you-need-to-know-about-nafta-and-fta-benefits/