ITC INVESTIGATES POSSIBLE MODIFICATIONS TO GSP

ITC INVESTIGATES POSSIBLE MODIFICATIONS TO GSP    The U.S. International Trade Commission will investigate the possible impact on certain industries from proposed modifications to the country’s Generalized System of Preferences.
   The investigation, “Advice Concerning Possible Modifications to the U.S. Generalized System of Preferences,” was requested by the U.S. Trade
Representative’s Office on August 22.
   GSP is a trade program that allows U.S. companies to import certain types of goods on a duty-free basis from approved developing countries.
   Through the study, the ITC will provide advice to the USTR to whether any industry in the United States is likely to be injured by the addition to the GSP of certain cheeses, peanuts, dairy preparations, pineapples and grape juices, grape must, other rosin and resin acids, certain ferroalloys, and ball and tapered roller bearings.
   The study will also provide advice on adverse impacts of granting waivers to “competitive need limits” specified in the 1974 Trade Act with respect to peanuts and grape juice from Argentina, pineapple juice from the Philippines, and gold and platinum jewelry from Turkey.
   “‘Competitive need limits’ represent the maximum import level of a product 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,” ITC said. “As requested, with respect to the competitive need limits, the commission will use the dollar value limit of $100 million.”
   The ITC will hold a public hearing in Washington about the investigation on Oct. 17. Written comments from industry are due to the agency by Oct. 22. For more information, access the ITC’s Web site at https://www.usitc.gov.