By: Susan Kohn Ross
Mitchell Silberberg & Knupp LLP (Los Angeles, California, USA)
Implementing the Korea, Panama, and Colombia FTAs
One of the many important questions being asked at the start of 2012 is when should international traders expect to take advantage of the new free trade agreements (FTAs) with Korea, Panama, and Colombia?
Once President Obama issues the authorizing Executive Orders, Customs and Border Protection (CBP) will still need to publish proposed regulations. Based on the number of FTAs already enacted under U.S. law, it appears the general format and content of those regulations are fairly well set. However, the formalities must nonetheless be followed. It remains to be seen how quickly CBP will publish those regulations, whether the comment period will be more than thirty (30) days, and just how quickly thereafter the final regulations will become effective. The only thing certain is that it will be at least a few more weeks before the new FTAs are implemented under U.S. law. Click here to read entire article.
