The State Department has issued a public notice which announces that pursuant to Section 40A of the Arms Export Control Act (AECA) and Executive Order 11958, it has determined and certified to Congress that Cuba, Iran, North Korea, Syria, and Libya are not cooperating fully with U.S. antiterrorism efforts.
Generalized System of Preferences (GSP)
The Generalized System of Preferences (GSP) is a trade preference program established by the Trade Act of 1974, which promoted economic development by eliminating duties on many products when they were imported from one of the 119 countries and territories designated as developing. The program expired in December 2020 and is pending renewal in Congress. Should Congress renew the program with a retroactive refund clause, CBP will refund duties for entries eligible for GSP. Under the GSP, goods that are entirely produced or manufactured in a beneficiary developing country may qualify for duty-free entry under GSP; all third-party materials must undergo a substantial transformation defined as at least 35% of the good’s value having been added in the beneficiary country. The goods must also be “imported directly” from the GSP eligible country.
On May 5, 2004, the House Ways and Means Committee amended and ordered reported (i.e., approved) H.R. 4103, the African Growth and Opportunity Act (AGOA) Acceleration Act of 2004. (This bill is often referred to as "AGOA III.")
On May 5, 2004, the House Ways and Means Committee amended and ordered reported (i.e., approved) H.R. 4103, the African Growth and Opportunity Act (AGOA) Acceleration Act of 2004. (This bill is often referred to as "AGOA III.")
On March 4, 2004, the Senate passed its version of H.R. 1047, the "Miscellaneous Trade and Technical Corrections Act of 2003."
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:
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)