International Trade Law News

The Office of the U.S. Trade Representative (USTR) yesterday announced the results of the 2006 Annual Review of the Generalized System of Preferences (GSP). As a result of the review, USTR terminated GSP eligibility for 21 products and granted waivers of the competitive need limitations on 115 products.

The 21 products were removed from the GSP program because they "can compete effectively in the U.S. market". Among the products that will be removed from GSP eligibility are: brake and brake parts and ferrozirconium from Brazil; kola nuts from Cote d’Ivoire; gold jewelry and brass lamps from India; wiring harnesses from the Philippines; gold jewelry from Thailand; and methanol from Venezuela. The 2006 import value of the products removed from GSP eligibility was approximately $4.8 billion. Total U.S. imports from beneficiary developing countries under the GSP program in 2006 were $32.6 billion, a 22% increase over 2005.

A PDF document containing a complete list of the products that were removed and added to the GSP program (and their corresponding HTS numbers can be found at the following link.

Labels: GSP, USTR