ETLW 313: Chapter 14 (DONE)

certificate of origin (CO)

required for all shipments moving among the United States, Canada, and Mexico

Canada

Is the US's largest trade partner

binational panels

panels where NAFTA cases now go, apply the same standard of review as would a court of law convened in the country where the case originated

national treatment

states that once goods arrive from another NAFTA country, they must be treated without discrimination and no differently than domestically made goods

NAFTA applies to goods wholly produced or obtained in

North America

List three specific things from your text that NAFTA does

1) Liberalizzes trade in goods and services 2) Contains specific provisions for protecting intellectual property rights 3) Makes cross-border investment easier

The two most important general rules of NAFTA are:

1) goods must be wholly produced/obtained in US/Mex/Canada 2) goods must meet the regional value content requirement of the tariff shift rules of origin

Article _____ of the US Constitution gives treaty-making power to the president, with senate consent

2

Under NAFTa a foreign product ______ be channeled through one North American country for sale in another North American country and avoid payment of duties

Cannot

Under the ____ _______ (Article 1, Sec 8) the states gave the federal congress the exclusive power to manage trade among the states and with the foreign nation

Commerce Clause

In the "Skippy" peanut butter case, the courts ruled that under NAFTA the company ______ _______ put "Made in the USA" on its label

Could Not

Appeals to the decisions of binational panels may be taken only to a NAFTA ______ _________ _______ not a court of law

Extraordinary Challenge Committee

The purpose of the ______ ______ _ ________ is to encourage trade with developing countries to aid in their economic growth

Generalized system of preferences

NAFTA is an agreement between which three countries?

Mexico USA Canada

According to the text, NAFTA permits certain action to safeguard a domestic industry. The emergency safeguards under NAFTA are ______ __________ _____ safeguards under GATT/WTO

More Limited Than

arbitral panel

a NAFTA panel, consisting of five members who are experts in trade or law

tariff shift rule

a rule allowing for a change in tariff classification, a regional value-content requirement, or both, depending on the requirements for that particular product (Annex 401)

substantial transformation test

a test used to determine the country of origin of goods imported into the United States when the goods are produced or assembled in more than one country

common market

also called an economic community, it seeks to further facilitate free competition within a group of nations

customs union

develops when there is free trade in all goods that come through any of the members, even imports from outside the ___________________

free trade area (FTA)

develops when two or more countries agree to eliminate or phase out customs duties and other barriers to trade among the member countries

customs user fees

fees imposed on importers to help fund the cost of customs enforcement and port services