USTR Requests ITC Investigation of Effects of U.S.-E.U. FTA Duty Elimination
The U.S. Trade Representative requested International Trade Commission investigations into the economic effects of the elimination of tariffs on goods from the EU, both in general and with a specific focus on agricultural products. The reports would be used to assist the USTR in negotiating the Transatlantic Trade and Investment Partnership agreement with the EU, formally announced March 20 (see 13032105).
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The first report requested by the USTR would consider the economic effects of providing duty-free treatment to EU goods entering under Chapters 1-97 of the Harmonized Tariff Schedule for which tariffs are currently in place. The report should consider effects on consumers and competing industries in the U.S., said the USTR in its March 25 letter.
The second report requested by the USTR would focus on the economic effects of duty elimination for certain agricultural products. An appendix to the USTR request letter lists the products subject to the investigation, in the following two categories:
- Tariff rate quota items
- Non-TRQ products for which, as a result of the Uruguay Round, the rate of duty was reduced on Jan. 1, 1995 to a rate which was not less than 97.5 percent of the rate of duty applied on Dec. 31, 1994
The USTR requested confidential treatment of the reports, so they won't be available to the public once they are completed. The USTR asked the ITC to submit their findings within six months.
Email ITTNews@warren-news.com for a copy of the USTR request letter.