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)
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