Denial of Benefits Under Trade Agreement by the European Union: Initiation of Investigation; Proposed Determination; Request for Public Comment; and Public Hearing

Короткий зміст

Under Articles XXIV:6 and XXVIII of the General Agreement on Tariffs and Trade 1994 (GATT 1994) attached to the Agreement Establishing the World Trade Organization (WTO Agreement), whenever two or more Members of the World Trade Organization (WTO) form a customs union and thereby withdraw or modify tariff concessions, they must provide full and permanent compensation to relevant affected trading partners; if such compensation is not provided, then those other trading partners may withdraw concessions and increase tariffs. The United States is continuing to negotiate with the European Union (EU) regarding the EU's provision of full and permanent compensation to the United States for withdrawing concessions and increasing tariffs on trade into the territories of Austria, Finland and Sweden upon their accession to the EU on January 1, 1995. However, in order to preserve U.S. rights under a trade agreement, the United States Trade Representative (USTR) initiated on October 24,1995, an investigation under section 302(b) of the Trade Act of 1974 (Trade Act) (19 U.S.C. 2412(b)). The USTR proposes, if necessary, to determine that U.S. benefits under a trade agreement are being denied and t