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Under the new Canada-Korea Free Trade Agreement (CKFTA), which became effective January 1, 2015, numerous tariffs are being eliminated or phased out over the next 11 years. Many tariffs are eliminated immediately, with the rest falling into these general phasing categories:
- 3 years: Apparel
- 3-5 years: Appliances, Consumer Electronics, Chemicals, Aluminum, Automotive (Light Vehicles), Automotive (Parts)
- 3, 5 or 11 years: Ships
- 5 years: Agriculture
- 5-11 years: Footwear
As with NAFTA, a Certificate or Origin is required to take advantage of the reduced duty rates, and the goods must be imported directly from Korea to Canada.
For more information, contact Brian Rowe, General Manager – Customs Consulting Services.
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