U.S. to deprive Ukraine of certain trade preferences
The United States has decided to suspend a number of preferences regarding duty-free trade with Ukraine, according to a letter from U.S. President Donald Trump to the Speaker of the House of Representatives and the President of the Senate, published on the White House's website.
"Pursuant to section 502(d)(3) of the Trade Act of 1974, as amended (19 U.S.C. 2462(d)(3)), I am advising you of my intent to suspend the duty-free treatment accorded under the Generalized System of Preferences (GSP) program to certain eligible articles that are the product of Ukraine," the letter says.
Read alsoUkrainian exports to U.S. increase 2.2 times – Kubiv"After considering the criteria set forth in sections 501 and 502(c) of the Trade Act of 1974, as amended (19 U.S.C. 2461 and 2462(c)), including, in particular section 502(c)(5) (19 U.S.C. 2462(c)(5)) on the extent to which a designated beneficiary developing country is providing adequate and effective protection of intellectual property rights, I have determined that it is appropriate to suspend the duty-free treatment accorded under the GSP program to certain eligible articles that are the product of Ukraine," Trump said in a letter.