[Congressional Record (Bound Edition), Volume 160 (2014), Part 5]
[Senate]
[Pages 6997-6998]
[From the U.S. Government Publishing Office, www.gpo.gov]




 NOTIFICATION OF THE PRESIDENT'S INTENT TO WITHDRAW THE DESIGNATION OF 
RUSSIA AS A BENEFICIARY DEVELOPING COUNTRY UNDER THE GENERALIZED SYSTEM 
                  OF PREFERENCES (GSP) PROGRAM--PM 40

  The PRESIDING OFFICER laid before the Senate the following message 
from the President of the United States, together with an accompanying

[[Page 6998]]

report; which was referred to the Committee on Finance:

To the Congress of the United States:
  Consistent with section 502(f)(2) of the Trade Act of 1974 (the 
``1974 Act'') (19 U.S.C. 2462(f)(2)), I am providing notice of my 
intent to withdraw the designation of Russia as a beneficiary 
developing country under the Generalized System of Preferences (GSP) 
program.
  Sections 501(1) and (4) of the 1974 Act (19 U.S.C. 2461(1) and (4)), 
provide that, in affording duty-free treatment under the GSP, the 
President shall have due regard for, among other factors, the effect 
such action will have on furthering the economic development of a 
beneficiary developing country through the expansion of its exports and 
the extent of the beneficiary developing country's competitiveness with 
respect to eligible articles.
  Section 502(c) of the 1974 Act (19 U.S.C. 2462(c)) provides that, in 
determining whether to designate any country as a beneficiary 
developing country for purposes of the GSP, the President shall take 
into account various factors, including the country's level of economic 
development, the country's per capita gross national product, the 
living standards of its inhabitants, and any other economic factors he 
deems appropriate.
  Having considered the factors set forth in sections 501 and 502(c) of 
the 1974 Act, I have determined that it is appropriate to withdraw 
Russia's designation as a beneficiary developing country under the GSP 
program because Russia is sufficiently advanced in economic development 
and improved in trade competitiveness that continued preferential 
treatment under the GSP is not warranted. I intend to issue a 
proclamation withdrawing Russia's designation consistent with section 
502(f)(2) of the 1974 Act.
                                                        Barack Obama.  
The White House, May 7, 2014.

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