ITC investigates impact of duty-free pharmaceutical imports
The U.S. International Trade Commission has started an investigation to provide information and advice to the Bush administration about the impact of eliminating import duties on about 1,300 pharmaceutical products and related chemical inputs.
The products would be added to the Pharmaceutical Appendix to the U.S. Harmonized Tariff Schedule. The United States and 21 other countries agreed during the Uruguay Round to eliminate duties on pharmaceuticals and to periodically conduct reviews to identify additional products to be covered.
The Office of the U.S. Trade Representative asked the ITC to conduct the investigation. The ITC will submit its report to the USTR by Sept. 1.