May 19, 1987 Memorandum for the United States Trade Representative
Subject: Actions concerning the Generalized System of Preferences
Pursuant to section 504(f) of the Trade Act of 1974, as amended (the Act) (19 U.S.C. 2464(f)), I am hereby acting to modify the application of duty-free treatment under the Generalized System of Preferences (GSP) currently being afforded to certain beneficiary developing countries. Such countries are Bahrain, Bermuda, Brunei Darussalam, and Nauru.
Specifically, I have determined, under the provisions of section 504(f), that the per capita gross national product for each such country for calendar year 1985, calculated on the basis of the best available information, exceeds the applicable limit provided in section 504(f)(2). Accordingly, pursuant to section 504(f)(1)(A), beginnning on July 1, 1986, and continuing through June 30, 1988, the limitations on preferential treatment provided under section 504(c)(1)(B) of the Act (19 U.S.C. 2464(c)(1)(B)) shall be applied substituting ``25 percent'' for ``50 percent.'' Furthermore, pursuant to section 504(f)(1)(B), effective July 1, 1988, such countries shall no longer be treated as beneficiary developing countries, and articles the product of any such country shall no longer receive preferential treatment under the GSP.
This determination shall be published in the Federal Register.
[Filed with the Office of the Federal Register, 3:11 p.m., May 20, 1987]
Note: The memorandum was released by the Office of the Press Secretary on May 20.