ITC Institutes Investigation on Proposed U.S.-Australia FTA
The International Trade Commission (ITC) has issued a notice announcing that, following receipt of a request from the U.S. Trade Representative (USTR), it has instituted an investigation under 19 USC 3804(f) regarding the potential economy wide and selected sectoral effects of the proposed U.S.-Australia Free Trade Agreement (FTA).
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
The ITC also states that it will seek input for this investigation through a public hearing on March 30, 2004 in Washington, DC.
Report to Assess Likely Impact of FTA on Whole Economy and Specific Sectors
According to the ITC, the report will assess the likely impact of the proposed U.S.-Australia FTA on the U.S. economy as a whole and on specific industry sectors, including the impact the proposed FTA would have on the gross domestic product, exports and imports, aggregate employment and employment opportunities, the production, employment, and competitive position of industries likely to be significantly affected by the proposed FTA, and the interests of U.S. consumers.
ITC will submit report to President and Congress. The ITC states that it is required to submit its report to the President and the Congress not later than 90 days after the President enters into the FTA, which he can do 90 days after he notifies the Congress of his intent to do so. The President notified the Congress on February 13, 2004 of his intent to enter into an FTA with Australia. (See ITT's Online Archives or 02/25/04 news, 04022507, for BP summary of the President's Congressional notification.)
- written comments are due by 5:15 p.m. on March 22, 2004.
ITC contact - Thomas Jennings (202) 205-3260
ITC notice (Inv. No. TA-2104-11, FR Pub 03/08/04) available at http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo.gov/2004/pdf/04-5159.pdf