July 9, 2002
News Release 02-058
Inv. No. 332-325

ITC ISSUES FOLLOW-UP REPORT ON ECONOMIC EFFECTS OF SIGNIFICANT U.S. IMPORT RESTRAINTS

The U.S. International Trade Commission (ITC) today issued an update of its report The Economic Effects of Significant U.S. Import Restraints.

The ITC, an independent, nonpartisan, factfinding federal agency, completed the report for the U.S. Trade Representative (USTR). The report is the fourth in a series of reports to the USTR. The base year for the study is 1999, the year for which the most recent data are available on the structure of the U.S. economy.

The report presents results on the economic effects on the U.S. economy of removing significant U.S. import restraints in manufacturing, agricultural products, and services. The report examines tariff rate quotas on agricultural products, quantitative restrictions applied to textiles and apparel, the ban on the import of maritime cabotage services, and duties for sectors with high tariffs. It also presents an examination of the labor transition experiences incurred when import restraints are eliminated.

The Economic Effects of Significant U.S. Import Restraints: Third Update (Inv. No. 332-325, USITC Publication 3519, June 2002) will be posted on the ITC's Internet site at www.usitc.gov. A CD-ROM or printed copy may be requested by calling 202-205-1809 or by writing to the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may also be faxed to 202-205-2104.

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