Six countries could lose US trade benefits - USTR

[Judi Lynn]

Six countries could lose US trade benefits - USTR
By Doug Palmer



Dec 20, 2006 — WASHINGTON (Reuters) - Six countries — including Brazil, India and Venezuela — could lose duty-free access to the U.S. market in 2007 for some of their key exports under a revamped U.S. trade program signed into law on Wednesday by President Bush, U.S. trade officials said.

Thailand, Ivory Coast and Philippines could also lose trade benefits because of recent changes Congress made to the U.S. Generalized System of Preferences program for developing countries, the U.S. Trade Representative's office said.

Under previous law, the six countries received a waiver to continue exporting certain goods to the United States on a duty-free basis despite exceeding thresholds that otherwise would have ended those benefits.

But motivated in large part by U.S. frustration with India and Brazil in world trade talks, the revamped GSP program allows the Bush administration to revoke such waivers when one of two conditions are met: imports of a certain good from one country exceed an annual cap of about $187.5 million, or comprise 75 percent of total U.S. imports of that good.
(snip/...)

http://abcnews.go.com/Politics/wireStory?id=2741467

[cdnwannabe]

1. Gee, what a surprise, Venezuela is on the list...

Karma will be such a big hairy bitch for BushCo!

[madrchsod]

2. india? please do`t start me laughing over that!

we are increasing trade with india every dam day...god what a joke