US Ends Duty-Free Status For Gold Rope Necklaces From India.

WASHINGTON, D.C. - The US has ended duty-free status for gold necklaces from India as the product was found to be sufficiently competitive in American markets.

The US allows duty-free treatment to certain products from developing countries to help them expand their economies.

Other items that have been struck off the duty-free list are passenger tyres from Thailand and wood flooring from Brazil.

“After assessing which products should continue to benefit from duty-free treatment under GSP (Generalized System of Preferences), President Obama determined that five products from three beneficiary countries are now sufficiently competitive in the United States,” the US Trade Representative Ron Kirk said.

“As a result, duty-free treatment will be withdrawn for those products, including certain passenger tyres from Thailand, wood flooring from Brazil, and gold rope necklaces from India,” he said following the release of the Obama Administration’s Annual Review under the GSP program.

In all, the US will continue to provide duty-free treatment to 110 products from 19 beneficiary countries, whose imports exceed the statutory ceilings by only a small amount.

“In 2009, the total value of imports of these 110 products was $613 million,” Kirk said.

Obama also granted Egypt’s request to add frozen beans and frozen mixed vegetables to the list of eligible products.

Those products eligible for duty-free benefits under the GSP program on July 1 Kirk said.

Noting that GSP is central to American trade agenda and critical to developing countries’ continued growth and development, Kirk said: “In our annual review, USTR worked to make sure GSP is working as it should, assessing GSP beneficiaries’ development, export competitiveness, and domestic policy practices.”

Source : India Journal