Caribbean Basin Initiative (CBI)

Business / Agriculture / Caribbean Basin Initiative (CBI): A permanent program designed to increase private investment, trade, and tourism in Caribbean countries, initially created by the Caribbean Basin Economic Recovery Act of 1983 and amended several times. It gives preferential trade and tax benefits for eligible Caribbean countries, including duty-free entry of eligible products. To be eligible, an article must be a 'product' of (as defined in the U.S. general rules of origin) a beneficiary country and imported directly from it, and at least 35% of its import value must have originated in one or more CBERA beneficiaries. Slightly different import value rules apply to articles entering from Puerto Rico and the Virgin Islands. The duty-free import of sugar and beef products is subject to a special eligibility requirement that a beneficiary country submit and carry out a stable food production plan ensuring that increased production of sugar and beef will not adversely affect overall food production. Preferential tariff treatment, though, does not extend to imports of: textiles and apparel subject to textile agreements, specified footwear, canned tuna, petroleum and its products, and watches and watch parts containing any material originating in countries denied most-favored-nation trade status. Special criteria apply to the duty-free import of ethanol through FY2000. Import-sensitive products, not accorded duty-free tariff treatment, are eligible to enter at lower than most-favored-nation tariff rates. These products include handbags, luggage, flat goods (such as wallets, change purses, and key and eyeglass cases), work gloves, and certain leather wearing apparel.

Other Words for Initiative

Initiative Noun Synonyms: first move or step, lead, opening move
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Caribbean Basin Economic Recovery Act Of 1983 (CBERA)

Business / Agriculture / Caribbean Basin Economic Recovery Act Of 1983 (CBERA): P.L. 98-67 (August 5, 1983), Title II, authorized unilateral preferential trade and tax benefits for eligible Caribbean countries, including duty-free treatment of eligible products. This law is commo MORE

National Research Initiative Competitive Grants Program (NRI)

Business / Agriculture / National Research Initiative Competitive Grants Program (NRI): Generally referred to as the NRI, this program makes grants to scientists at both public and private laboratories for basic and applied agricultural research in priority areas as designated in the res MORE

Multiple Basing Points

Business / Agriculture / Multiple Basing Points: A method of regional pricing in milk marketing orders that would allow more than one basing point, or 'surplus area,' to be used. Surplus areas are administratively defined as areas with low Class I u MORE

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