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NAFTA and FTA Benefits: What you need to know

How do the North American Trade Agreement and the Free Trade Agreement benefit importers?

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NAFTA and FTA Benefits: What you need to know

  1. 1. NAFTA and FTA Benefits What You Need To Know
  2. 2. 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.
  3. 3. 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.
  4. 4. Importance of NAFTA and FTA
  5. 5. Why are NAFTA and FTAs important for importers? Both agreements make importing into the U.S. faster and more successful.
  6. 6. NAFTA FAQs
  7. 7. 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 people Since 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)
  8. 8. 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
  9. 9. FTA FAQs
  10. 10. 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
  11. 11. 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
  12. 12. 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.
  13. 13. 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. 1.800.274.2329 http://www.afcinternationalllc.com custombrokerage@afcexpress.com Reference: http://www.afcinternationalllc.com/blog/what-you- need-to-know-about-nafta-and-fta-benefits/

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How do the North American Trade Agreement and the Free Trade Agreement benefit importers?

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