According to a Washington File report, the Treasury Department has found that no major U.S. trading partner manipulated its currency in the last six months of 2003 to gain unfair competitive advantage or prevent balance of payment adjustments. Treasury's report also reiterated the U.S. position endorsed by major industrialized countries that a pegged exchange rate policy is not appropriate for a major economy such as China. (Washington File Pub 04/16/04, available at http://usinfo.state.gov/xarchives/display.html?p=washfile-english&y=2004&m=April&x=20040416122714SAikceinawz4.645938e-02&t=livefeeds/wf-latest.html)
USTR Seeks Comments on Possible Withdrawal, Suspension, or Limitation of GSP Benefits for Bangladesh
The Office of the U.S. Trade Representative (USTR) has issued a notice stating that the Generalized System of Preferences (GSP) Subcommittee of the Trade Policy Staff Committee (TPSC) is seeking public comments by May 12, 2004 on which products of Bangladesh should no longer be eligible for GSP duty-free treatment if the GSP Subcommittee decides to recommend limiting Bangladesh's GSP benefits.
U.S. Customs and Border Protection (CBP) has again updated its information on its upcoming seminars at nine airports on the advance electronic information requirements for inbound air cargo. CBP has updated its previously updated information in order to:
The Office of the U.S. Trade Representative (USTR) has issued a notice in order to make several technical corrections to the Harmonized Tariff Schedule of the U.S. (HTS). According to the USTR, these modifications correct inadvertent omissions or errors in various Presidential Proclamations.
According to Presidential Proclamation 7758, which was issued on March 1, 2004, as well as U.S. governmental sources, Generalized System of Preferences (GSP) duty free treatment will terminate for goods entered, or withdrawn from warehouse, for consumption, on or after May 1, 2004 from the following seven countries:
U.S. government sources state that the International Trade Commission (ITC) is expected to soon post to its Web site Revision 1 of its electronic 2004 Harmonized Tariff Schedule of the U.S. (HTS). Sources state that the ITC's goal is to have Revision 1 posted by mid-April 2004.
U.S. Customs and Border Protection (CBP) has issued an ABI administrative message announcing that its most recent Harmonized System (HS) update contains:
CNN.com reports that the Bush Administration will soon impose economic sanctions against Syria under the Syria Accountability and Lebanese Sovereignty Restoration Act, adding that diplomatic penalties are unlikely to be imposed. (See ITT's Online Archives or 12/19/03 news, 03121920, for BP summary of the Syria Act.) (CNN.com Pub 03/10/04, available at http://www.cnn.com/2004/WORLD/meast/03/10/us.syria/index.html)
U.S. Customs and Border Protection (CBP) has posted a notice to its Web site stating that effective February 25, 2004, hand-loomed fabrics of the cottage industry, hand-made cottage industry products made of hand loomed fabrics and traditional handicraft textile products that are entered or withdrawn from warehouse for consumption on or after February 25, 2004 are eligible for Generalized System of Preferences (GSP) duty-free treatment provided that proper requirements are met.
On March 4, 2004, the Senate passed its version of H.R. 1047, the "Miscellaneous Trade and Technical Corrections Act of 2003."