Last Substantial Transformation

Last substantial transformation in Global Commerce Policy

In this regard, last substantial transformation is: a concept used in the administration of rules of origin to decide whether a good will receive preferential tariff treatment. The entries on trade policy are here. It means that the good has to have undergone sufficient processing or re-working to meet, for example, the change-in tariff- classification criterion or a value-added criterion. The last substantial transformation has to occur in one of the parties to the preferential trade agreement in question, and it has to be done immediately before the good is exported. See also substantial transformation.[1]

Last substantial transformationin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Last substantial transformation” entry (OAS)

See Also