Over half of world trade now falls under some kind of preferential trading agreement.

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Meanwhile, the South Asian Preferential Tariff Agreement, which took effect Dec. 8, is expected to boost trade and help hold down prices in products made in the subcontinent.

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Section 203 of the Implementation Act sets forth certain rules for determining whether a good is an originating good for the purpose of implementing preferential tariff treatment provided for under the Agreement.

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