Wednesday, July 9, 2014
INTERNATIONAL TRADE: NORTH AMERICAN FREE TRADE AGREEMENT ("NAFTA")
INTERNATIONAL TRADE: NORTH AMERICAN FREE TRADE AGREEMENT ("NAFTA"): By Norka M. Schell International Law Lawyer Law Offices of Norka M. Schell, LLC Tel. (212)564-1589 In a global economy, the movement of...
NORTH AMERICAN FREE TRADE AGREEMENT ("NAFTA")
By Norka M. Schell
International Law Lawyer
Law Offices of Norka M. Schell, LLC
Tel. (212)564-1589
In a global economy, the movement of persons across the borders is critical to the movement of goods and facilitation of investments. The United States-Canada Free Trade Agreement ("FTA"), implemented on January 1, 1989, provided for the freer movement not only of goods but also of business persons. With the North American Free Trade Agreement ("NAFTA"), implemented on January 1, 1994, the United States and Canada included Mexico in their preferential trading relationship. The goal of NAFTA is to eliminate all customs duties on all goods originating in Canada, Mexico, or the United States over a transition period.
The purpose of NAFTA is to eliminate all customs duties on all goods originating in Canada, Mexico, or the United States over a transition period.
As of January 1, 2008, all tariffs and quotas were eliminated on U.S. exports to Mexico and Canada under the NAFTA.
The NAFTA provides coverage to services with the exception of aviation transport, maritime, and basic communications. The agreement also provide intellectual property rights protection in patent, trademark, and copyrighted material.
With regard to the movement of persons, the purpose of NAFTA is not to harmonize immigration regimes or create a common labor market or a passport union among the United States, Canada, and Mexico. Rather, each of the three countries intends to maintain its sovereignty over immigration to protect its domestic labor market. The NAFTA provisions affect only four categories of the business persons: (1) business visitors - admitted as
B-1s; (2) traders and investors - admitted as E-1s and E-2s; (3) intra-company transferees - admitted as L-1s; and (4) professional - admitted as TNs.
For more information on NAFTA, please contact our firm to speak with a lawyer.
International Law Lawyer
Law Offices of Norka M. Schell, LLC
Tel. (212)564-1589
In a global economy, the movement of persons across the borders is critical to the movement of goods and facilitation of investments. The United States-Canada Free Trade Agreement ("FTA"), implemented on January 1, 1989, provided for the freer movement not only of goods but also of business persons. With the North American Free Trade Agreement ("NAFTA"), implemented on January 1, 1994, the United States and Canada included Mexico in their preferential trading relationship. The goal of NAFTA is to eliminate all customs duties on all goods originating in Canada, Mexico, or the United States over a transition period.
The purpose of NAFTA is to eliminate all customs duties on all goods originating in Canada, Mexico, or the United States over a transition period.
As of January 1, 2008, all tariffs and quotas were eliminated on U.S. exports to Mexico and Canada under the NAFTA.
The NAFTA provides coverage to services with the exception of aviation transport, maritime, and basic communications. The agreement also provide intellectual property rights protection in patent, trademark, and copyrighted material.
With regard to the movement of persons, the purpose of NAFTA is not to harmonize immigration regimes or create a common labor market or a passport union among the United States, Canada, and Mexico. Rather, each of the three countries intends to maintain its sovereignty over immigration to protect its domestic labor market. The NAFTA provisions affect only four categories of the business persons: (1) business visitors - admitted as
B-1s; (2) traders and investors - admitted as E-1s and E-2s; (3) intra-company transferees - admitted as L-1s; and (4) professional - admitted as TNs.
For more information on NAFTA, please contact our firm to speak with a lawyer.
INTERNATIONAL TRADE: DON'T LET YOUR BUSINESS IMPORT TROUBLE
INTERNATIONAL TRADE: DON'T LET YOUR BUSINESS IMPORT TROUBLE: By: Norka M. Schell NYC International Lawyer Law Offices of Norka M. Schell, LLC 11 Broadway, Suite 615 New...
DON'T LET YOUR BUSINESS IMPORT TROUBLE
By: Norka M. Schell
NYC International Lawyer
Law Offices of Norka M. Schell, LLC
11 Broadway, Suite 615
New York, NY 10004
Tel. (212)564-1589
www.lawschell.com
With very few exceptions, all goods imported into the United States must be declared with the United States Customs Service and are subject to duties under the Harmonized Tariff Schedule of the United States (HTSUS). Duties vary with the type of merchandise, its value, its origin, and a number of other factors. Penalties for violating Customs laws or procedures can be quite substantial.
Despite the very high duties (which may be higher than the corporate tax rate), few importers give Customs law questions the same thought spent on tax planning or other issues. This is a mistake. The reality for any importer is that duties and fines imposed for Customs law violations add an extra layer of cost to the item imported and correspondingly reduce the item's competitive worth in the domestic marketplace.
The combination of GATT, NAFTA, and the Customs Modernization Act has made some of the most substantial changes in Customs law in years; and new regulations with substantial changes in Customs procedures are coming out almost daily.
If you do any significant volume of importing business, the Law Offices of Norka M. Schell, LLC can assist you. Our lawyers are creative and resourceful. Contact our Firm at (212)564-1589 to schedule a consultation with a lawyer.
NYC International Lawyer
Law Offices of Norka M. Schell, LLC
11 Broadway, Suite 615
New York, NY 10004
Tel. (212)564-1589
www.lawschell.com
With very few exceptions, all goods imported into the United States must be declared with the United States Customs Service and are subject to duties under the Harmonized Tariff Schedule of the United States (HTSUS). Duties vary with the type of merchandise, its value, its origin, and a number of other factors. Penalties for violating Customs laws or procedures can be quite substantial.
Despite the very high duties (which may be higher than the corporate tax rate), few importers give Customs law questions the same thought spent on tax planning or other issues. This is a mistake. The reality for any importer is that duties and fines imposed for Customs law violations add an extra layer of cost to the item imported and correspondingly reduce the item's competitive worth in the domestic marketplace.
The combination of GATT, NAFTA, and the Customs Modernization Act has made some of the most substantial changes in Customs law in years; and new regulations with substantial changes in Customs procedures are coming out almost daily.
If you do any significant volume of importing business, the Law Offices of Norka M. Schell, LLC can assist you. Our lawyers are creative and resourceful. Contact our Firm at (212)564-1589 to schedule a consultation with a lawyer.
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