PUBLIC LAW 104-188—AUG. 20, 1996 110 STAT. 1917 (2) EFFECTIVE DATE.— The amendment made by this 26 USC 1491 subsection shall take effect on the date of the enactment of ^^ote. this Act. Subtitle J—Generalized System of GSP Renewal Act •n if of 1996. Preferences SEC. 1951. SHORT TITLE. 19 USC 2101 This subtitle may be cited as the "GSP Renewal Act of 1996". """^^ SEC. 1952. GENERALIZED SYSTEM OF PREFERENCES. (a) IN GENERAL.— Title V of the Trade Act of 1974 is amended to read as follows: "TITLE V—GENERALIZED SYSTEM OF PREFERENCES "SEC. 501. AUTHORITY TO EXTEND PREFERENCES. 19 USC 2461. "The President may provide duty-free treatment for any eligible article from any beneficiary developing country in accordance with the provisions of this title. In taking any such action, the President shall have due regard for— "(1) the effect such action will have on furthering the economic development of developing countries through the expansion of their exports; "(2) the extent to which other major developed countries are undertaking a comparable effort to assist developing countries by granting generalized preferences with respect to imports of products of such countries; "(3) the anticipated impact of such action on United States producers of like or directly competitive products; and "(4) the extent of the beneficiary developing country's competitiveness with respect to eligible articles. "SEC. 502. DESIGNATION OF BENEFICIARY DEVELOPING COUNTRIES. 19 USC 2462. "(a) AUTHORITY TO DESIGNATE COUNTRIES. — "(1) BENEFICIARY DEVELOPING COUNTRIES.—The President is authorized to designate countries as beneficiary developing countries for purposes of this title. " (2) LEAST-DEVELOPED BENEFICIARY DEVELOPING COUN- TRIES. —The President is authorized to designate any beneficiary developing country as a least-developed beneficiary developing country for purposes of this title, based on the considerations in section 501 and subsection (c) of this section. "(b) COUNTRIES INELIGIBLE FOR DESIGNATION.— "(1) SPECIFIC COUNTRIES.— The following countries may not be designated as beneficiary developing countries for purposes of this title: "(A) Australia. "(B) Canada. "(C) European Union member states. "(D) Iceland. "(E) Japan. "(F) Monaco. "(G) New Zealand.
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