March 16, 2006
News Release 06-021
Inv. No. 332-471
Contact: Peg O'Laughlin, 202-205-1819

ITC RELEASES REPORT ON LIKELY EFFECTS OF DUTY-FREE ENTRY FOR WATCHES UNDER THE GSP

The U.S. International Trade Commission (ITC) today released a public version of its report Advice Concerning Possible Modifications to the U.S. Generalized System of Preferences, 2005 Special Review on Watches.

The ITC, an independent, nonpartisan, factfinding federal agency, submitted a confidential version of the report to the U.S. Trade Representative (USTR) on February 17, 2006. The investigation was requested by the USTR in a letter received on August 9, 2005.

As requested, the ITC provided advice for all GSP beneficiary countries for certain watches classified under HTS subheadings 9102.11.10, 9102.11.25, 9102.11.30, 9102.11.45, 9102.19.20, 9102.19.40, and 9102.91.40. The ITC provided separate advice for each watch HTS subheading as to the probable economic effects of the elimination of import duties on United States industries, as well as the effects on United States insular possessions.

Advice Concerning Possible Modifications to the U.S. Generalized System of Preferences, 2005 Special Review on Watches (Investigation No. 332-471, USITC Publication 3841, March 2006) will be posted in the Publications area of the ITC Internet site at www.usitc.gov. A printed copy may be requested by calling 202-205-1809 or by writing the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may also be made by fax to 202-205-2104.

ITC general factfinding investigations, such as this one, cover matters related to tariffs or trade and are generally conducted at the request of USTR, the Senate Committee on Finance, or the House Committee on Ways and Means. The resulting reports convey the Commission's objective findings and independent analyses on the subjects investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the ITC submits its findings and analyses to the requester. General factfinding investigation reports are subsequently released to the public, unless they are classified by the requester for national security reasons.

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