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Korea Us Free Trade Agreement Pdf

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 U.S.-Korea free trade agreement does not require a specific certificate. They may be invited by the Korean importer or customs service to provide information in support of a request for preferential treatment. For more information on what is expected to be contained, please see the certificate-of-origin free trade agreements. Please note that the Korean Customs Service does not impose a specific certificate of origin in accordance with KORUS and does not impose a form or format required for the certificate of origin. U.S. exporters or producers should be informed that, as long as you provide the necessary elements to obtain certification, you do not need to use the korean Customs Certificate or a mandatory Korean government form, although you are free to do so. Third, Korea has requested changes to the rules of origin applicable to three categories of textile products that are not available in Korea or the United States and therefore must come from other countries.37 This amendment was requested because the current “wire-to-sight” rules allow a textile product to benefit from the lower rights of a free trade agreement only if it is made up of threads and fabrics from one of the parties to the free trade agreement. The United States supports specific rules in its trade agreements because it restricts intermediate consumption from other countries.38 The United States has agreed to expedite its process of verifying domestic and domestic availability and has expressed its willingness to change the rules of origin specific to textile and clothing products (Annex 4-A) if there is no commercial availability. This would be a positive development in terms of relaxing the strict rules on cutting-edge yarn, which hinder the most efficient methods of textile and clothing manufacturing. Another korus amendment relates to the bureaucracy associated with customs procedures. Korean customs traditionally require more detailed documentation in relation to U.S.

customs, a practice that acts as a non-tariff barrier to trade. While in the United States, Customs and Border Guards primarily examine Tier 1 suppliers (direct suppliers of primary OEMs) as long as quotas exist for manufacturers lower in the supply chain, the Korean Customs Service often requires much more documentation, even for suppliers as far away as Tier 3 (raw material suppliers).33 The korus renegotiation has drawn up a list of eight principles. aimed at reducing this customs slowdown and calls for the creation of a working labour slowdown. 34 This result is worrying because it brings trade policy back to the 1980s and uses an instrument that operates outside current international rules. The commitment to unrelated national security issues to push Korea to make concessions marks a new approach to trade negotiations, which we will likely see more of the Trump administration.