May 25, 2012
News Release 12-055
Inv. No. 332-529
Contact: Peg O'Laughlin, 202-205-1819
USITC RELEASES REPORT ON LIKELY EFFECTS
OF MODIFICATIONS TO THE U.S. GENERALIZED SYSTEM OF PREFERENCES
The U.S. International Trade Commission (USITC) today released a public version of its confidential report on the probable economic effect of possible modifications to the U.S. Generalized System of Preferences (GSP), which provides duty-free treatment for specified U.S. imports from certain developing countries.
The investigation, Advice Concerning Possible Modifications to the U.S. Generalized System of Preferences, 2011 Review of Additions and Competitive Need Limitation Waivers, was requested by the U.S. Trade Representative (USTR).
As requested, the USITC, an independent, nonpartisan, factfinding federal agency, submitted a confidential version of the report to the USTR on May 14, 2012. The USTR requested that the USITC issue a public version of the report containing only the unclassified sections, with any business confidential information deleted.
The investigation provides advice on the likely impact on competing U.S. industries on U.S. imports, and on U.S. consumers, of granting GSP eligibility for the following Harmonized Tariff Schedule (HTS) subheadings and countries as noted:
For all GSP-eligible countries:
For least-developed beneficiary developing countries (LDBDC):
Additionally, the investigation provides advice on the likely impact on competing U.S. industries, on U.S. imports, and on U.S. consumers of granting competitive need limitation waivers on the following nine HTS subheadings for the countries as noted. "Competitive need limitations" set the maximum U.S. import level for GSP eligibility and are based on the dollar value or share of total imports of a given product. Once the limit is reached, trade is considered "competitive," benefits are no longer needed, and imports of the article become ineligible for GSP treatment, unless a waiver is granted.
Advice Concerning Possible Modifications to the U.S. Generalized System of Preferences, 2011 Review of Additions and Competitive Need Limitation Waivers (Investigation No. 332-529, USITC publication 4327, May 2012) is available on the USITC's Internet site at http://www.usitc.gov/publications/332/pub4327.pdf.
The report may be requested by sending an email to firstname.lastname@example.org, by calling 202-205-2000, or by writing the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436.
USITC general factfinding investigations, such as this one, cover matters related to tariffs or trade. The investigations are generally conducted at the request of USTR, the Senate Committee on Finance, or the House Committee on Ways and Means; the USITC may also self-initiate investigations. 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 USITC 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.