Article 1207: Quantitative Restrictions

1. Each Party shall set out in its Schedule to Annex V (TLCAN: Anexo V) any quantitative restriction that it maintains at the federal level.

2. Within one year of the date of entry into force of this Agreement, each Party shall set out in its Schedule to Annex V (TLCAN: Anexo V) any quantitative restriction maintained by a state or province, not including a local government.

3. Each Party shall notify the other Parties of any quantitative restriction that it adopts, other than at the local government level, after the date of entry into force of this Agreement and shall set out the restriction in its Schedule to Annex V (TLCAN: Anexo V).

4. The Parties shall periodically, but in any event at least every two years, endeavor to negotiate the liberalization or removal of the quantitative restrictions set out in Annex V (TLCAN: Anexo V) pursuant to paragraphs 1 through 3.