How to turn PAL into NTSC?

Standalone applicatons like Canopus Procoder or Procoder Express can do standards conversion on files. Outside of this you'd need hardware - which isn't anywhere near as cheap.
 
Under AVI and MPEG, you have options to render as PAL or NTSC. Doesn't matter what timeline you're in.

Remember that you'll lose quality either way -- there are compromises in both directions.
 
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