[Federal Register Volume 62, Number 162 (Thursday, August 21, 1997)]
[Notices]
[Pages 44486-44487]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-22095]


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INTERNATIONAL TRADE COMMISSION

[Investigation 332-382]


The Likely Impact of U.S.-EU Sectoral Trade Liberalization

AGENCY: United States International Trade Commission.

ACTION: Institution of investigation and scheduling of public hearing.

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EFFECTIVE DATE: August 15, 1997.

SUMMARY: Following receipt on August 11, 1997, of a request from the 
Office of the U.S. Trade Representative (USTR), the Commission 
instituted investigation No. 332-382, The Likely Impact of U.S.-EU 
Sectoral Trade Liberalization, under section 332(g) of the Tariff Act 
of 1930 (19 U.S.C. 1332(g)).

FOR FURTHER INFORMATION: Information on economic aspects of the 
investigation may be obtained from Joseph Flynn, Office of Economics 
(202-205-3251), Sandra Rivera, Office of Economics (202-205-3007), or 
William Donnelly, Office of Economics (202-205-3223), and on legal 
aspects, from William Gearhart, Office of the General Counsel (202-205-
3091). The media should contact Margaret O'Laughlin, Office of External 
Relations (202-205-1819). Hearing impaired individuals are advised that 
information on this matter can be obtained by contacting the TDD 
terminal on (202-205-1810).

BACKGROUND: The USTR's letter requesting the investigation was received 
on August 11, 1997. The letter noted that the United States and the 
European Union (EU) have agreed to conduct a joint study to consider 
the

[[Page 44487]]

potential effects of creating a closer economic integration between the 
U.S. and the EU. It also stated that the Office of the U.S. Trade 
Representative and the European Commission established an approach to 
the study involving focusing on sectors or issue areas that warrant 
analysis of the potential effects of the removal of barriers to U.S.-EU 
trade, while also assessing the broad economic impact of such 
liberalization.
    As requested by USTR, the Commission in its report on the 
investigation will provide a study analyzing the likely impact on U.S. 
commerce of potential U.S.-EU sectoral trade liberalization. The 
sectors to be studied are (1) automobiles and light trucks, (2) 
biotechnology (utilized in the production of goods), (3) chemicals, (4) 
electronics, (5) non-ferrous metals, (6) paper and paper products, and 
(7) pharmaceuticals.
    As requested, the Commission will conduct the analysis in two 
phases: (1) in phase I it will seek to identify and describe the most 
significant barriers to trade and investment in the U.S. and EU for 
each study sector; and (2) in phase II it will assess, wherever 
possible, the likely impact of removing these barriers on the 
individual study sectors and on the U.S. economy in general.
    As requested, the phase I report will contain detailed descriptions 
of the most significant U.S. and EU barriers to trade and investment 
that the Commission has identified in the study sectors, as well as a 
brief profile of U.S. and EU trade and investment in each study sector. 
For each of the study sectors being examined, the Commission will 
provide, to the extent possible, the following information for each 
barrier:
     Description of barrier, including administrative basis, if 
any;
     Production and exports in the affected sector or products;
     Qualitative information on the effect of the barrier and 
its removal on U.S. producers, exporters, and investors;
     A summary of past or ongoing efforts to remove a 
particular barrier, e.g. the Uruguay Round;
     Relevant data on industry structure, performance, 
employment, etc.
    The Commission will provide the phase I report by November 21, 
1997.
    The phase II analysis will provide trade liberalization model 
simulations that assess the impact of the removal of the barriers on 
the individual study sectors and the U.S. economy in general, including 
information on the effects on employment, output, trade, and prices. In 
addition, the Commission will conduct a liberalization simulation that 
encompasses, to the extent possible, all significant U.S. and EU trade 
barriers (including those in the zero-for-zero sectors identified in 
the Statement of Administration Action accompanying the Uruguay Round 
Agreements Act, but not listed above). The Commission will also 
provide, to the extent possible, an analysis of trade liberalization of 
global electronic commerce, consistent with the Administration's 
objectives, during phase II. The Commission will not include actions 
resulting from final antidumping or countervailing duty investigations 
in its analysis.
    The Commission will provide the phase II report by April 30, 1998.
    Public Hearing: A public hearing in connection with the 
investigation will be held in the Commission hearing room, 500 E 
Street, SW, Washington, DC 20436, beginning at 9:30 a.m. on September 
23, 1997.
    All persons have the right to appear by counsel or in person to 
present information and to be heard. Requests to appear at the public 
hearing should be filed with the Secretary, United States International 
Trade Commission, 500 E Street, SW, Washington, DC 20436 no later than 
COB, September 17, 1997. Hearing statements should be filed not later 
than COB September 18, 1997. Any posthearing submissions must be filed 
not later than COB October 2, 1997.
    In the event that, as of COB September 17, 1997, no witnesses have 
filed a request to appear at the hearing, the hearing will be canceled. 
Any person interested in attending the hearing as an observer or non-
participant may call the Secretary to the Commission (202-205-1816) 
after September 17, 1997, to determine whether the hearing will be 
held.
    Written Submissions: Interested persons are invited to submit 
written statements (one original and 14 copies) concerning the matters 
to be addressed in the report. Commercial or financial information that 
a party desires the Commission to treat as confidential must be 
submitted on separate sheets of paper, each clearly marked 
``Confidential Business Information'' at the top. (Generally, 
submission of separate confidential and public versions of the 
submission would be appropriate.) All submissions requesting 
confidential treatment must conform with the requirements of Sec. 201.6 
of the Commission's Rules of Practice and Procedure (19 CFR 201.6). All 
written submissions, except for confidential business information, will 
be made available in the Office of the Secretary to the Commission for 
inspection by interested persons. To be assured of consideration by the 
Commission, written statements relating to the Commission's phase I 
report should be submitted at the earliest practical date and should be 
received no later than October 2, 1997, and written statements relating 
to the Commission's phase II report should be submitted at the earliest 
practical date and should be received no later than February 13, 1998. 
All submissions should be addressed to the Secretary, U.S. 
International Trade Commission, 500 E St SW, Washington, DC 20436.
    Persons with mobility impairments who will need special assistance 
in gaining access to the Commission should contact the Office of the 
Secretary at 202-205-2000.

    Issued: August 15, 1997.

    By Order of the Commission.
Donna R. Koehnke,
Secretary.
[FR Doc. 97-22095 Filed 8-20-97; 8:45 am]
BILLING CODE 7020-02-U