[Congressional Record Volume 161, Number 142 (Wednesday, September 30, 2015)]
[Senate]
[Pages S7045-S7046]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          PRESIDENTIAL MESSAGE

                                 ______
                                 

NOTIFICATION OF THE PRESIDENT'S INTENT TO TERMINATE THE DESIGNATIONS OF 
SEYCHELLES, URUGUAY, AND VENEZUELA AS BENEFICIARY DEVELOPING COUNTRIES 
    UNDER THE GENERALIZED SYSTEM OF PREFERENCES (GSP) PROGRAM--PM 24

  The PRESIDING OFFICER laid before the Senate the following message 
from the President of the United States which was referred to the 
Committee on Finance:

To the Congress of the United States:
  In accordance with section 502(f)(2) of the Trade Act of 1974, as 
amended (the ``1974 Act'') (19 U.S.C. 2462(f)(2)), I am providing 
notification of my intent to terminate the designations of Seychelles, 
Uruguay, and Venezuela as beneficiary developing countries under the 
Generalized System of Preferences (GSP) program. Section 502(e) of the 
1974 Act (19 U.S.C. 2462(e)) provides that if the President determines 
that a beneficiary developing country has become a ``high income'' 
country, as defined by the official statistics of the International 
Bank for Reconstruction and Development of the World Bank (the ``World 
Bank''), the President shall terminate the designation of such country 
as a beneficiary developing country for purposes of the GSP program, 
effective on January 1 of the second year following the year in which 
such determination is made.
  Pursuant to section 502(e) of the 1974 Act, I have determined that it 
is appropriate to terminate the designations of Seychelles, Uruguay, 
and Venezuela as beneficiary developing countries under the GSP 
program, because they have become high income countries as defined by 
the World Bank. Accordingly, their eligibility for trade benefits

[[Page S7046]]

under the GSP program will end on January 1, 2017.
                                                        Barack Obama.  
The White House, September 30, 2015.

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