Posted March 4, 2002 Manufacturing News ITC Launches Investigations on Economic Effects of Tariff Elimination The U.S. International Trade Commission (www.usitc.gov) will begin two investigations on the reduction of tariffs. The first investigation concerns the probable economic effect of the reduction or elimination of U.S. tariffs, and the second concerns the probable effect of the reduction or elimination of foreign tariffs. The investigations were requested by the U.S. Trade Representative (USTR) in a recent letter. In the letter, the USTR stated that the new WTO agenda, launched at the WTO Ministerial Conference in Doha, Qatar, includes negotiations to reduce duties on industrial products and the initiation of a Free Trade Area of the Americas (FTAA) this year. Accordingly, the USTR has asked the ITC to provide advice on the effect of U.S. tariff reductions on U.S. industries and consumers. In the first investigation, the ITC will provide the probable economic effect on U.S. consumers and industries producing directly competitive articles of eliminating U.S. tariffs of 5 percent ad valorem or below on dutiable imports from all U.S. trading partners and reducing all other U.S. tariffs by 50 percent; eliminating U.S. tariffs on all dutiable imports from all U.S. trading partners; and eliminating U.S. tariffs on all dutiable imports from FTAA countries. The second investigation will provide advice on the effect on U.S. exports and U.S. agricultural and industrial sectors if all U.S. trading partners eliminate their tariffs of 5 percent ad valorem or below and reduce all other tariffs by 50 percent; if all U.S. trading partners eliminate their tariffs; and if all FTAA countries eliminate their tariffs. The ITC will hold public hearings in connection with these investigations. The first hearing will be held on May 1, 2002; the second on May 3, 2002. Requests to appear at either hearing should be filed no later than April 17, 2002. The ITC will provide its advice in confidential reports to the USTR by August 9 and November 22, 2002, for each investigation. The Manufacturing Report © Copyright 2002 by Lionheart Publishing, Inc. All rights reserved. E-mail Editorial Dept: tmr-editorial@lionhrtpub.com Lionheart Publishing, Inc. 2555 Cumberland Parkway, Suite 299, Atlanta, GA 30339 USA Phone: 770-431-0867 | Fax: 770-432-6969 E-mail: lpi@lionhrtpub.com