[Weekly Compilation of Presidential Documents Volume 44, Number 26 (Monday, July 7, 2008)]
[Pages 936-937]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Letter to Congressional Leaders on Extending and Terminating Generalized 
System of Preferences Benefits

June 30, 2008

Dear Madam Speaker:  (Dear Mr. President:)

    In accordance with section 502(f) of the Trade Act of 1974, as 
amended (the ``1974 Act''), I am notifying the Congress of my intent to 
(a) designate the Republic of Serbia

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(Serbia) and the Republic of Montenegro (Montenegro) as separate 
beneficiary developing countries under the Generalized System of 
Preferences (GSP); and (b) terminate the designation of Trinidad and 
Tobago as a beneficiary developing country under the GSP.

    In Proclamation 7912 of June 29, 2005, I designated Serbia and 
Montenegro as a beneficiary developing country for purposes of the GSP. 
On June 3, 2006, Montenegro declared independence from Serbia and 
Montenegro and the country separated into two independent republics, the 
Republic of Serbia and the Republic of Montenegro. Pursuant to section 
502 of the 1974 Act, and having considered the factors set forth in 
sections 501 and 502(c), I have determined that, in light of the 
separation of Serbia and Montenegro into two countries, the Republic of 
Serbia and the Republic of Montenegro should each be designated as 
beneficiary developing countries for purposes of the GSP.

    Section 502(e) of the 1974 Act, provides that the President shall 
terminate the designation of a country as a beneficiary developing 
country for purposes of the GSP if the President determines that such 
country has become a ``high income'' country as defined by the official 
statistics of the International Bank for Reconstruction and Development. 
Termination is effective on January 1 of the second year following the 
year in which such determination is made. I have determined that 
Trinidad and Tobago has become a ``high income'' country, and I am 
terminating the designation of that country as a beneficiary developing 
country for purposes of the GSP, effective January 1, 2010.

     Sincerely,

                                                George W. Bush

Note: Identical letters were sent to Nancy Pelosi, Speaker of the House 
of Representatives, and Richard B. Cheney, President of the Senate.