Even for Dominicans, Free Trade is already in its 2nd year

http://www.dominicantoday.com 06/03/07

The Free Trade Agreement with the United States establishes eliminating tariffs in 5, 10, 15 and 20 years for certain products, with the first year already concluded.

It began when the first Central American country entered the agreement with the United States -as the pact establishes- which was March 1, 2006, with the entrance of El Salvador.

But in addition, article 7, in its chapter 3, annex 3.3 in the agreement, establishes that the following years of tariff dismantling will be counted starting from each January 1. That is to say, that the second year began in January, 2007, including for Dominican Republic.

This is valid for articles such as vehicles, which will be tax-exempt in 5 years, but its 20% tariff has immediately dropped to 16%, because we are already in the second year of the lowering of duties.