ITC probes U.S.-Transpacific Partnership impact
The U.S. International Trade Commission will investigate the probable economic effect of a potential U.S. free trade agreement with Australia, Brunei Darussalam, Chile, New Zealand, Peru, Singapore and Vietnam, known as the U.S.-Transpacific Partnership Agreement.
In specific, the Office of the U.S. Trade Representative asked to the ITC to advise the White House on the effect of providing duty-free treatment for imports of products from TPP members on industries in the United States that produce like or directly competitive articles. The ITC's advice will be based on the 2010 Harmonized Tariff Schedule nomenclature and 2008 trade data.
The report is due to the USTR by June 2. The ITC will hold a public hearing regarding the investigation at its Washington headquarters on March 2, and will accept written comments by March 23. For more details, access the ITC's Web site.