March 20, 2007
News Release 07-031
Inv. No. 332-325
Contact: Peg O'Laughlin, 202-205-1819

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 fifth update in a series of reports to the USTR. The base year for the study is 2005, 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 estimates changes in U.S. welfare, output, employment, and trade that could result from the elimination of U.S. tariff-rate quotas on agricultural products, quantitative restrictions applied to textiles and apparel, and duties for sectors with high tariffs. The study also examines the economic implications of restrictions affecting maritime trade and trucking, and it analyzes the implications of liberalization for U.S. workers.

The Economic Effects of Significant U.S. Import Restraints: Fifth Update (Inv. No. 332-325, USITC Publication 3906, February 2007) will be posted in the Publications section of the ITC's Internet site at /publications/docs/pubs/332/PUB3906.pdf. A CD-ROM or printed copy may be requested by calling 202-205-2000 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 sent by e-mail to: Pubrequest@usitc.gov.

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