Letter to the Speaker of
the House of Representatives and the President of the Senate on Amendments to
the Generalized System of Preferences
April 29, 1988
Mr. Speaker: (Dear Mr. President:)
am writing to notify you of my intent to remove certain countries from
beneficiary status under the Generalized System of Preferences (GSP). I am also
modifying my January 29, 1988, notification to the
Congress on the GSP program. The GSP program is authorized by the Trade Act of
1974, as amended (``the Act'').
May 19, 1987, I determined that the
1985 per capita gross national product (GNP) of Brunei Darussalam, Bermuda, Bahrain, and Nauru had exceeded the
maximum level permissible under section 504(f) of the Act. Therefore, I intend
to terminate the beneficiary status of these four countries. My decision will
take effect on July 1, 1988.
regard to my January 29, 1988, notification to the
Congress concerning my decision to graduate Taiwan, the Republic of Korea, Hong Kong, and Singapore from the GSP program on
January 2, 1989, the effective date of
graduation has been changed to January 1, 1989.
Note: Identical letters
were sent to Jim Wright, Speaker of the House of Representatives, and George
Bush, President of the Senate.