White House Announces Reciprocal Trade Frameworks with Argentina, Ecuador, El Salvador and Guatemala
The Trump Administration today, Nov. 13, announced framework agreements on reciprocal trade and investment with Argentina, Ecuador, El Salvador and Guatemala.
The framework agreements are provided below with initial highlights by NCBFAA Customs Counsel and Legislative Advisor Sandler, Travis & Rosenberg, P.A.:
Argentina
· The United States will remove the reciprocal tariffs on certain unavailable natural resources and non-patented articles for use in pharmaceutical applications. In addition, the United States may positively consider the effect that the Agreement has on national security, including taking the Agreement into consideration when taking trade action under Section 232 of the Trade Expansion Act of 1962.
Ecuador
· The United States will remove its reciprocal tariffs on certain qualifying exports from Ecuador to the United States.
El Salvador
· The United States will remove the reciprocal tariffs on El Salvador’s exports to the United States for certain qualifying exports that cannot be grown, mined, or naturally produced in the United States in sufficient quantities, as well as certain products, such as textiles and apparel products, originating under the CAFTA-DR. In addition, the United States may positively consider the effect that the Agreement has on national security, including taking the Agreement into consideration when taking trade action under Section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862).
Guatemala
· Joint Statement on Framework for United States-Guatemala Agreement on Reciprocal Trade – The White House · The United States will remove the reciprocal tariffs on Guatemala’s exports to the United States for certain qualifying exports that cannot be grown, mined, or naturally produced in the United States in sufficient quantities, as well as certain products, such as textiles and apparel products, originating under the CAFTA-DR