Us Korea Free Trade Agreement Preference Criterion

Note: The information presented on this website is intended to serve as a general guide. Only the text of the treaty and the customs provisions adopted for the implementation of the agreement are final. In the event of complex issues or interpretation, U.S. exporters should seek the assistance of a lawyer or a preliminary decision by the Korean Customs Service. For new manufacturers in import and product classification, CBP has resources to help them. In particular, the CBP website for the publication of compliance information contains guidelines for the classification of different products and other useful information. www.cbp.gov/xp/cgov/trade/legal/informed_compliance_pubs/ Any right to preferences under the Korean Free Trade Agreement must be supported by a certificate of origin attesting to the origin status of the imported product. This link contains a PDF model that shows how to structure such a certificate of origin. The model can be filled in and users can use it. Its use or respect for its structure is by no means mandatory.

However, under the applicable rules, all data that is provided must be submitted, at CBP`s request, as part of a preferential tariff application. Open-form certification can be used by Korean manufacturers and exporters and U.S. importers as an alternative to original certification when they invoke compliance with the Korea Free Trade Agreement. The USTR website contains various product and sector fact sheets and Q-As on agreements and we have created a website and email address for your requests: www.ustr.gov/uskoreaFTA and KORUS@ustr.eop.gov. Answer: The preference test must indicate how the property is qualified for preferential treatment under Article 6.1 of the free trade agreement. If a property qualified under section 6.1, point (a) would write “WO” in the letter of preferential criteria, if a property is qualified under section 6.1 (b), you would enter “SRS” in the preference test and if a property is qualified under article 6.1, point c), you would enter the “PE” in the preference test. For more information on Article 6.1, click here. The United States has always been one of Korea`s top ten import and export partners. In 2011, Korea was the united States` seventh largest trading partner and the United States was Korea`s fourth largest trading partner.

With the implementation of the U.S.-Korea Free Trade Agreement, there are exciting opportunities to increase trade between countries and further strengthen their relationships: the KORUS Free Trade Agreement reduces barriers to the export of goods, services and ideas and promotes the free movement of exports between countries, which benefits both businesses and consumers.