ARCHIVE

Content on this archived webpage is NOT UPDATED, and external links may not function. External links to other Internet sites should not be construed as an endorsement of the views contained therein.

Click here to go to the CURRENT USTR.GOV WEBSITE

Breadcrumb

Statement by Ambassador Froman on the President’s Notification to Remove Certain Trade Benefits from Russia

May 07, 2014

Washington, D.C. – The Office of the U.S. Trade Representative issued the following statement concerning President Obama’s notification to remove Russia’s trade benefits under the Generalized System of Preferences (GSP).

“The purpose of the Generalized System of Preferences is to assist developing countries to use trade to boost their economic development,” said Ambassador Froman. “Russia has advanced beyond the level of economic development and competitiveness for GSP eligibility. As such, Russia should no longer qualify to receive GSP benefits. The President’s decision is consistent with the World Bank's designation of Russia as a ‘high income country’ as well as actions by the European Union and Canada to remove Russia from similar programs.”