ITC Begins New Investigation of Economic Effect of TPP; Comments due Sept. 19
The International Trade Commission is asking for input on the probable economic effect of a free trade agreement with members of the Trans-Pacific Partnership (TPP), including Canada and Mexico, for use in its newly initiated investigation entitled “U.S.-Trans-Pacific Partnership Free Trade Agreement Including Canada and Mexico: Advice on the Probable Economic Effect of Providing Duty-Free Treatment for Imports.” The investigation was requested by the U.S. Trade Representative in a July 19 letter asking ITC to provide advice concerning the probable economic effect of a U.S. free trade agreement with Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The ITC scheduled a public hearing Sept. 12 in Washington, DC. Comments are due Sept. 19.
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ITC said the USTR asked it to, among other things, identify any changes in its advice from earlier ITC reports on a TPP FTA that did not include Canada and Mexico, which recently joined the TPP negotiations. Those reports remain classified by the USTR, ITC said.
In the final report of this investigation, ITC said it will advise the President as to the probable economic effect of providing duty-free treatment for imports of products of the ten TPP members on industries in the U.S. producing like or directly competitive articles and on consumers. In preparing its advice, the ITC will consider each article in chapters 1 through 97 of the Harmonized Tariff Schedule for which tariffs will remain, taking into account implementation of U.S. commitments in the World Trade Organization and under U.S. free trade agreements.
In addition, as requested by the USTR, the ITC will prepare an assessment of the probable economic effect of eliminating tariffs on imports of certain agricultural products of the TPP members on U.S. industries producing the product concerned and the economy as a whole, it said. A list of the products is attached to the USTR's request letter, which will be available here.