Monday, September 20, 2010

ITC Report on Eliminating Duties on 735 More Drug Products

(World Trade Interactive)

The International Trade Commission released Sept. 16 results of its investigation into the potential elimination of duties on an additional 735 pharmaceutical products and chemical intermediates that are used primarily for the production of pharmaceuticals. These products would be added to the HTSUS Pharmaceutical Appendix, which was created as part of the Uruguay Round Agreements and already covers approximately 9,500 products. The U.S. and 21 other major trading countries agreed during the Uruguay Round to eliminate duties on pharmaceuticals and to periodically conduct reviews to identify additional products to be covered by the initiative.

The ITC’s report provides a summary description of the products contained in the existing Pharmaceutical Appendix as well as the proposed modifications, an explanation of the relationship between the various elements in the Appendix and the HTSUS, and an estimate of current U.S. imports and, where possible, exports of the products included in the existing Pharmaceutical Appendix and the proposed additions.