Caribbean Basin Initiative

Caribbean Basin Initiative

Summary of Caribbean Basin Initiative

An economic development plan for the Caribbean area advanced by the Reagan administration. The principal features of the program include: establishment of a one-way free trade area in which most Caribbean- area products enter the United States free of duty; a reduction of the Caribbean content requirement for duty-free entry into the United States from 35 percent to 25 percent. Virtually all products, other than garments, footwear, and a very few other import-sensitive items, may now enter duty-free from most Caribbean nations. The program was enacted in 1983.

(Main Author: William J. Miller)


Posted

in

, ,

by

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *