USA cancels the trade privileges for Russia
USA cancels the trade privileges for Russia within the Generalized System of Preferences (GSP USA), declared the President of the USA, Barack Obama on May 7, 2014.
When the stated issue comes into force, the Russian commodities, being imported to the USA under the conditions of the GSP, will be liable to customs duties on a common basis.
In fact, the stated issue is one of the general sanctions against Russia, due to the situation around Ukraine. But officially, there is no connection with the stated events. Remind, that the US Government stated Russia is the economically developed country and there is no necessity to use the preference treatment, provided for less developed countries.
Remind, that the European Union and Canada excluded Russia from the same programs.
GSP – is the state program, providing the duty-free on the commodities' supplies to the USA. As of the end of July, 2013 Russia had 425 commodity items for duty-free imports. The Russian exports to the USA within the GSP used to reach the amount of 544 mln USD.
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