Five top export products from the
US Trade Representative Susan C. Schwab said exports of tuna, beverage containers, ropes, batteries and photographic meters would keep their duty-free access, despite having exceeded export thresholds set by the
This is because the US Congress has lifted the “competitive need limitations†that prevented a country's export from accounting for more than half of total US imports of that product.
Going beyond the limit would have meant the removal of the duty-free access as provided by the US Generalized System of Preferences, which would have adversely affected the exports of these five products, valued at a combined $130 million in 2007.
The US GSP was adopted in 1974 and provides duty-free treatment for nearly 5,000 products exported to the
Based on the 2007 yearly review, the
The total for the five product lines represent imports valued at P657.25 million based on 2007 figures.
“Congress created the GSP program to serve as a bridge for developing countries as they increase their participation in the global trading system,†Schwab explained.
“The GSP program has helped to promote development and reduce poverty in the developing countries while expanding our bilateral trade,†she added. “It has also helped make the
However, the USTR said the
Each year, the