Caribbean Basin Trade and Partnership Act

The Caribbean Basin Trade Partnership Act (CBTPA) is a law adopted by the U.S. Government in October 2000 to provide additional trade preferences for the 24 Caribbean countries. The Act expanded preferential treatment for apparel made in the Caribbean Basin by providing duty free and quota-free treatment of apparel made in the Caribbean Basin from U.S. fabrics formed from U.S. yarn and from certain knit apparel made from fabrics formed in the Caribbean Basin that incorporated U.S. yarns are used in forming the fabric. In addition, the Act provides NAFTA-equivalent tariff treatment for other specified items. The existing 24 countries of the Caribbean Basin Initiative were declared to be beneficiary countries under the Act.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.