Economy 2022-07-15T07:48:57+03:00
Ukrainian news
U.S. Gives 120-Day Delay On Suspension Of Duty-Free Import From Ukraine

U.S. Gives 120-Day Delay On Suspension Of Duty-Free Import From Ukraine

Ukraine, USA, import, duty-free, GSP

The Donald Trump Administration (the United States) has approved cancelling duty-free import from Ukraine under the U.S. Generalized System of Preferences (GSP) but offered a 120-day suspension of the decision.

The Ministry of Economic Development and Trade has said this in a statement, Ukrainian News Agency reports.

The U.S. Administration decision was announced on December 22 by the Office of the United States Trade Representative.

One of the main complaints of the United States to Ukraine, laid out in the Special Report-301, concerns the lack of transparency and a strong hand in the activity of organizations overseeing intellectual property and associated rights.

Deputy Economy Minister Mykhailo Titarchuk considers that Ukraine must pass a host of legislations, including a bill on geographic directions (No.6023), a bill on brands and industrial samples (No.5699), a bill on semi-conductors (No.5694) and other similar bills that will address most of the complaints pressed by the United States in the Special Report-301.

As Ukrainian News Agency earlier reported, on December 22, a letter from President Donald Trump to the U.S. Congress was published on the website of the White House in which the President announced his intention to suspend a duty-free import from Ukraine under the GSP.

Ukraine received permission to export about 5,000 products free-of-duty to the United States in the period from 29 July 2015 to 31 December 2017 following the 2015 renewal of the GSP program.

The GSP program covers to the most common goods: a large number of chemical products, minerals, building stone, jewelry, many types of carpets, as well as certain agricultural products and fishery.

To take advantage of the benefits of duty-free export to the United States under the GSP, Ukraine as a state must demonstrate effective protection of intellectual property rights and labor rights, while Ukrainian companies must demonstrate compliance with the rules on product origin.

The Ministry of Economic Development and Trade initiated revamping the legislation on intellectual property and drafted a respective bill On Collective Management of Intellectual Property Rights and Associated Rights.

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