This is the Final Award in a claim brought on March 12, 2004 under Chapter 11 of the North American Free Trade Agreement (hereinafter “NAFTA”). As described in the Tribunal’s July 20, 2006 Decision on Objections to Jurisdiction (hereinafter “Decision on Jurisdiction”) and more fully below, the Claimants contend that actions taken by various states of the United States of America to implement the 1998 Master Settlement Agreement (hereinafter “MSA”) violate their rights under Chapter 11 of NAFTA. The MSA was concluded on November 23, 1998 to settle litigation by a number of U.S. states against certain major U.S. cigarette manufacturers. While the specific actions at issue have been taken by states of the United States, the United States has acknowledged throughout that it is internationally responsible under NAFTA for their actions.