ITC Releases Report on Likely Effects of Duty-Free Entry for Goods Under the GSP
Source: U.S. International Trade Commission (ITC)
The U.S. International Trade Commission (ITC) today released a public version of its confidential report on the probable economic effects of waiving the competitive need limit for certain goods under the Generalized System of Preferences (GSP).
The report, Advice Concerning Possible Modifications to the U.S. Generalized System of Preferences, 2008 Review of Competitive Need Limit Waivers, was requested by the U.S. Trade Representative (USTR).
As requested, the ITC, an independent, nonpartisan, factfinding federal agency, provided advice as to the impact of granting a waiver of the competitive need limit for Indonesia for PET resin (HTS subheading 3907.60.00); for Argentina for certain full grain unsplit bovine (not buffalo) and equine leather (HTS subheading 4107.91.80); and for Turkey for stranded copper wire (HTS subheading 7413.00.10).
“Competitive need limits” represent the maximum import level of a product, in terms of the dollar value or share of total imports, that is eligible for duty-free treatment under the GSP. 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. With respect to the competitive need limit in section 503(c)(2)(A)(i)(I) of the 1974 Act, the Commission, as requested, used the dollar value limit of $135 million.
+ Full Report (PDF; 888 KB)
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on Tuesday, May 26th, 2009 at 9:28 am and is filed under Business and economics, Government and politics, International Relations.
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