Report: U.S. imported $21 billion in products under GSP in 2003

Report: U.S. imported $21 billion in products under GSP in 2003    The Bush administration’s 2003 annual review of the Generalized System of Preferences Program, released this week, reported the United States imported more than $21 billion in products from developing countries approved under the duty-free program.
   The GSP program was established in 1974. Today, more than 140 approved developing countries export goods to the United States duty free. President Bush recently extended GSP benefits to another $220 million in new products.
   “We are committed to providing trade opportunities to developing countries as a way to encourage broad-based economic development, while taking into account U.S. import sensitive industries,” said U.S. trade representative Robert Zoellick in a July 1 statement.
   The Bush administration removed $135 million in imports from GSP coverage, including certain chemicals and manufactured goods, that were found to be competitive in the U.S. market at normal tariff rates.
   The administration reviewed a domestic petition to remove Brazil from GSP for inadequate protection of intellectual property rights. U.S. copyright-related industries estimate losses of more than $700 million in 2003. The U.S. government warned the Brazilian government to step up its anti-piracy measures or risk removal from GSP.