- Hello Customer - Log in or Register!
What is CAFTA-DR?CAFTA-DR is a free trade agreement among the countries of Central America, the Dominican Republic, and the United States, that was put into force in 2006. Its purpose is to promote trade between these countries by eliminating tariffs over the course of 15 years. In other words, the whole goal is to stimulate increased trade among these nations by making it more cost effective than ever.
So the good news is that if you are exporting to El Salvador, Guatemala, Honduras, Nicaragua, Costa Rica, or the Dominican Republic, you may not have to pay tariffs on your goods!
Right now, a huge percentage of U.S. consumer and industrial goods are tariff-free, and by next year, 2015, 100% of U.S. consumer and industrial goods exported to these CAFTA-DR countries will not be subject to tariffs. For agricultural products, it’s going to be another five years (2020) before the tariffs are completely lifted. Of course, for this tariff-free treatment under the free trade agreement, your products must meet the relevant rules of origin.
Why Should You Care about CAFTA-DR?
Since the U.S. government has made it more cost effective than ever to export goods to these Central American countries, many U.S. companies like yours have responded by both developing new export relationships with and increasing their exporting to the countries included in the CAFTA-DR. Here are the stats to prove it:
Since 2005, U.S. exports to these countries have grown to be 74% higher than before the agreement first entered into force. In 2013, U.S. companies exported $29.5 billion worth of goods, making the CAFTA-DR region the third largest export market in Latin America (only behind Mexico and Brazil). (Source: http://export.gov/FTA/cafta-dr/index.asp)
In 2013, Costa Rica and the Dominican Republic were the two largest markets for U.S. exports among the CAFTA-DR countries at $7.2 billion, followed by Guatemala ($5.5 billion), Honduras ($5.2 billion), El Salvador ($3.2 billion), and Nicaragua ($1.1 billion).
Costa Rica and Guatemala have been the fastest growing markets for U.S. exports since the agreement entered into force (101% and 95%, respectively), although all the markets have experienced solid growth of at least 52%.
Key U.S. exports to the CAFTA-DR countries that have experienced significant growth since the implementation of the agreement include petroleum products (the largest U.S. export category), machinery, electrical/electronic products, cotton yarns, cereals (wheat, corn, rice), plastics, motor vehicles, paper products, and medical instruments. (Source: http://export.gov/static/2013%20U%20S%20-CAFTA-DR%20Trade%20Review_Latest_eg_main_017575.pdf)
How You Can Get Started with CAFTA-DR
Are you ready to take advantage of these decreased and eliminated tariffs? Here are a few links to articles and tools that will help you get started with CAFTA-DR.
When Will My Product Become Duty Free?
http://www.shippingsolutions.com/blog/cafta-dr-when-will-your-product-become-duty-free
Reading the Rules of Origin under the U.S.-CAFTA-DR Free Trade Agreement
http://export.gov/FTA/cafta-dr/eg_main_017545.asp
Tariff Tool: What’s My Tariff Under CAFTA-DR?
http://export.gov/fta/ftatarifftool/TariffSearch.aspx
How to Declare That a Good Is Originating to Comply with CAFTA-DR
http://www.shippingsolutions.com/blog/cafta-dr-how-to-declare-that-a-good-is-originating
All Things CAFTA at Export.gov
http://export.gov/FTA/cafta-dr/index.asp
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| PSMF607560A51 bearing | 60 | 75 | 60 |
| PSMF607535A51 bearing | 60 | 75 | 35 |