Reported by the national marine fisheries service

Info icon This preview shows pages 10–12. Sign up to view the full content.

View Full Document Right Arrow Icon
reported by the National Marine Fisheries Service; imports within that volume are allowed at a 6% duty (instead of 12.5%). (c) WTO bindings 1. Following the Uruguay Round, the United States bound all tariff lines in Chapters 1-97, except two lines covering crude petroleum. In the context of the Consolidated Tariff Schedule (CTS) Database Project, in September 2000 the United States provided the WTO with its Consolidated Schedule of final bound rates resulting from all WTO Agreements, including the Uruguay Round, the Information Technology Agreement, and the Agreement on Pharmaceuticals. The CTS specifies the base and final rates, and the implementation periods. 21 USITC online information. Available at: http://dataweb.usitc.gov/. 22 For example, the AVE on sour cream (HS 0403 90 78) fell from 716% in 1997 to 94% in 2002. 23 AVEs are available online at: http://reportweb.usitc.gov/tariff/tariff_form.jsp.
Image of page 10

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
United States WT/TPR/S/126 Page 42 2. The staged annual reductions in bound MFN tariffs were implemented over five years for most industrial products (i.e. 1995-99), over six years (i.e. 1995-00) for most agricultural products, leaving about 12% of all CTS tariff lines to be reduced over a ten-year period, with the final bound rate applying as of 1 January 2004. Products whose final bound rate is reached in 2004 include mostly textiles and clothing (HS 50-65), but also some chemicals, paints, plastics, leather products, ceramics, glass products, and steel products. The reductions are specified on a line by line basis. 3. At the time of its previous Review, the United States had provided the WTO with the final revisions resulting from the introduction of the HS96 nomenclature; the documents for formal certification were being prepared in September 2003. The United States has also amended its Schedule of Concessions to implement the results of the 2002 revision of the Harmonized System, adopted by the World Customs Organization in June 1999 with effect from 10 January 2002. In line with the procedure agreed to by WTO Members for HS2002 changes 24 , the United States submitted its revised Schedule to the WTO for preliminary verification. (d) Preferential tariffs 1. This analysis is based on tariffs provided electronically by the United States to the WTO. Tariff preferences may be granted by the United States either unilaterally, or in the context of free- trade agreements (FTAs). As indicated in Chapter II, the United States grants unilateral preferential tariff treatment to countries qualifying under the U.S. Generalized System of Preferences (GSP); the Caribbean Basin Economic Recovery Act (CBERA), which implemented the Caribbean Basin Initiative (CBI); the United States-Caribbean Basin Trade Partnership Act (CBTPA), which builds on the CBERA; the Andean Trade Preference Act (ATPA) as amended by the Andean Trade Preference and Drug Eradication Act (ATPDEA); and the African Growth and Opportunity Act (AGOA).
Image of page 11
Image of page 12
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern