ITC to Investigate Effects of Chile, Australia, Singapore FTAs (Potential TPP Countries)
The International Trade Commission has launched an investigation to assess the U.S. export and import effects of three free trade agreements, entitled Selected Sectoral Effects of the U.S. FTAs with Chile, Singapore, and Australia, as requested by the U.S. Trade Representative.
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U.S. Negotiating a TPP Agreement With Chile, Singapore, Australia, Etc.
In the request letter, USTR noted the Administration’s intention to negotiate with seven countries to conclude a Trans-Pacific Partnership (TPP) Agreement. The U.S., Chile, Singapore, and Australia are among the eight countries participating in these negotiations.
(See ITT’s Online Archives or 03/22/10 and 01/12/10 news, 10032210 and 10011225, for BP summaries of USTR’s report on the first round of TPP negotiations, and ITC’s investigation on the impact of a potential TPP.)
ITC to Report on Effects on FTA Imports, Exports, Other Products/Services
Pursuant to the USTR’s request, the ITC will issue a report on the effects of the Chile, Singapore, and Australia FTAs, including the following:
FTA imports. With respect to each of these FTAs, and for certain goods for which the U.S. agreed to phase out its tariffs and other market barriers over an extended period of time, the ITC will examine U.S. imports of these goods, identify any apparent anomalies in U.S. import levels, and discuss the possible causes for these anomalies, taking into account factors affecting such levels, such as tariff changes, trade changes in similar products, changes in trade of the same product with other trading partners, or other relevant indicators of trade flows.
FTA exports. With respect to each of these FTAs, and for certain goods for which the other party agreed to phase out its tariffs and other market barriers over an extended period of time, the ITC will examine U.S. exports of these goods, identifying any apparent anomalies in U.S. export levels, and indicate the possible causes for these anomalies, taking into account factors identified above.
Other products, services exports. The ITC will consider the existence of other apparently anomalous levels of U.S. exports to the other FTA party, e.g., where the immediate elimination of tariffs and significant market access barriers to trade in a particular product resulted in little or no increase in U.S. exports, or where U.S. exports increased significantly in tariff lines where little or no reduction in tariffs occurred as the result of the FTA. The ITC will identify such apparently anomalous situations and indicate the possible causes, to the extent possible, and if possible, will identify and examine unexpected results in the performance of U.S. services exports.
The ITC expects to submit its confidential report to the USTR by December 13, 2010.
ITC press release (10-048, dated 05/13/10) available at http://www.usitc.gov/press_room/news_release/2010/er0513hh1.htm
USTR request letter (dated 04/13/10) available by emailing BP at documents@brokerpower.com