Topics in Brief

AuthorInternational Law Group
U S. and four Central American countries conclude Free Trade Act

On December 17, 2003, the U.S. and four Central American countries (El Salvador, Guatemala, Honduras and Nicaragua) concluded a Comprehensive Free Trade Act (CAFTA) to liberalize trade, tariffs and investment. First, the Act contains provisions for the reduction of tariffs. More than 80 percent of U.S. exports of consumer and industrial products will immediately become duty-free in those four Central American countries. The remainder will be phased out over 10 years. Secondly, textiles will be duty-free and quota-free immediately if they meet the Act's rules of origin.

Third, with respect to government procurement, the Act contains anti-corruption requirements designed to enable U.S. companies to have a fair chance to take part in public procurement in competition with local companies.

    Citation: U.S. Trade Representative Press Release of December 17, 2003; The Washington Post, December 18, 2003, page A1. [Fact Sheet and Outline of CAFTA is available on website "www.ustr.gov."]
EU rescinds retaliatory customs measures against U S. on steel

After the WTO Appellate Body decided the U.S.-EU steel dispute (DS 248, AB-2003-3) in November 2003, and the U.S. rescinded its restrictions, the EU acted on December 12, 2003, to repeal its special customs duties imposed in light of U.S. steel measures. See also 2003 International Law Update 189. The EU had imposed additional customs duties on certain U.S. products with Regulation 1031/2002 (2002 O.J. (L 157) 8), which it has rescinded with Regulation 2168/2003.

    Citation: 2003 O.J. of European Union (L 326) 1, December 13, 2003.
Peru regains funds misappropriated during Fujimori regime

At the recent Special Summit of the Americas, the U.S. Secretary of State signed an agreement with the Peruvian Foreign Minister which authorizes the transfer of $20,275,911.88 to the Government of Peru. This sum was the fruit of corrupt acts allegedly committed by presidential advisor Vladimir Montesinos and his associates under...

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