Tariff Reduction Schedule Sample Clauses
A Tariff Reduction Schedule sets out the timeline and specific steps by which tariffs on certain goods or services will be gradually lowered or eliminated between parties. Typically, this schedule details which products are affected, the initial tariff rates, and the incremental reductions to be made over defined periods, such as annually or semi-annually. By providing a clear and predictable framework for tariff changes, the clause facilitates smoother trade relations and helps businesses plan for future market access, ultimately reducing trade barriers in a controlled and transparent manner.
Tariff Reduction Schedule. 1. Except as otherwise provided in a Party’s Schedule to this Annex, the following staging categories apply to the reduction of customs duties by each Party:
a) duties on originating goods provided for in the items in staging category A in a Party’s Schedule shall be eliminated entirely and such goods shall be duty-free as the Agreement enters into force;
b) duties on originating goods provided for in the items in staging category B in a Party’s Schedule shall be removed in five (5) equal annual stages beginning on the date this Agreement enters into force, and such goods shall be duty-free, effective January 1 of year five (5);
c) duties on originating goods provided for in the items in staging category C in a Party’s Schedule shall be removed in ten (10) equal annual stages beginning on the date this Agreement enters into force, and such goods shall be duty-free, effective January 1 of year ten (10);
d) duties on originating goods provided for in the items in staging category D in a Party’s Schedule shall be removed in fifteen (15) equal annual stages beginning on the date this Agreement enters into force, and such goods shall be duty-free, effective January 1 of year fifteen (15);
e) duties on originating goods provided for in the items in staging category E in a Party’s Schedule shall be deemed as sensitive and free from any reduction commitment;
f) duties on originating goods provided for in the items in staging category F in a Party’s Schedule shall be reduced by 20% from the base rate beginning on the date this Agreement enters into force and afterward the said reduced duties will remain at that level and without any further reduction;
g) duties on originating goods provided for in the items in staging category G1 shall remain at base rates for years one (1) through four (4). On the 1st of January of year five (5), such tariffs shall be eliminated and said goods shall be duty-free;
h) duties on originating goods provided for in the items in staging category G2 shall remain at base rates for years one (1) through nine (9). On the 1st of January of year ten (10), such tariffs shall be eliminated and said goods shall be duty-free;
i) duties on originating goods provided for in the items in staging category G3 shall remain at base rates for years one (1) through fourteen (14). On the 1st of January of year fifteen (15), such tariffs shall be eliminated and said goods shall be duty-free.
Tariff Reduction Schedule. Unless otherwise provided in this Agreement, no Party may increase any existing tariff rate nor adopt any new customs tariff on originating goods.
Tariff Reduction Schedule. 1. Unless otherwise agreed in this Agreement, no Party may increase any existing tariff rate nor adopt any new customs tariff on originating goods.
2. The Parties agree to establish the tariff reduction schedule in Annex 3.04 (Tariff Reduction Schedule) for the originating goods.
3. Paragraph 1 does not intend to impede a Party to create a new subheading duty, if the customs tariff applied for is not higher than the tariff applied to the fraction.
4. Upon request by either Party, the Parties shall hold consultations to examine the possibility to improve the tariff treatment of each Party established in Annex 3.04 (Tariff Reduction Schedule). An agreement between the Parties of improving the tariff treatment of a good, shall prevail over any customs tariff or preference established in their schedules for that specific good, once approved by each Party in accordance with its applicable legal procedures.
5. Paragraph 1 of this Article does not prevent a Party from increasing a customs tariff to a level no higher than that established in Annex 3.04 (Tariff Reduction Schedule) if previously this customs tariff had been unilaterally reduced to a level lower than that established in Annex 3.04 (Tariff Reduction Schedule).
6. During the tariff reduction process, the Parties commit themselves to apply in their reciprocal trade of originating goods, the lowest customs tariff, obtained by comparing the level established in accordance with its respective Tariff Reduction Schedule and the level in force according to Article I of GATT 1994 (MFN).
Tariff Reduction Schedule. Upon the entry into force of this Agreement, the Parties commit themselves to ensuring access to their respective markets by means of elimination of customs duties, on the trade of originating goods according to the tariff reduction schedule described in Annex 3.04, unless otherwise provided therein.
Tariff Reduction Schedule. 1. Unless otherwise provided in this Agreement, no Party may increase any existing tariff rate nor adopt any new customs tariff on originating goods.
2. The Parties agree to establish the tariff reduction schedule in Annex 3.04 for the originating goods.
3. Except as otherwise provided in this Agreement each Party shall progressively eliminate its customs duties on goods in accordance with its schedules to Annex 3.04 and Annex 3.14.
4. Paragraphs 1 and 3 do not intend to impede a Party to create a new subheading duty, if the customs tariff applied for is not higher than the tariff applied to the fraction.
5. Paragraphs 1 and 3 of this Article are not intended to prevent a Party from maintaining or increasing a customs duty as may be authorized by any dispute settlement provision of the Dispute Settlement Agreement of the WTO.
6. Upon request by either Party, the Parties shall hold consultations to examine the possibility to improve the tariff treatment of each Party established in Annex 3.