§3555 — Title 19 Customs Duties | U.S. Code

Summary

The United States must try to get many important countries to cut or remove barriers that block the sale and operation of financial services. If other countries do that, the United States will offer to give national treatment and market access in every financial services subsector and will make those offers on a normal trade relations basis. The United States also aims to open foreign markets for basic telecommunications on fair, nondiscriminatory terms, either by letting companies build and use their own networks or by allowing resale on existing networks. For civil aircraft, the United States seeks fair chances for U.S. exports, cuts in tariffs and other trade barriers, strong rules limiting subsidies, the same scope on indirect government support as in the U.S.–E.C. agreement, and more transparency about foreign subsidy programs and company financial disclosures. The law defines: “civil aircraft” (products covered by the Agreement on Trade in Civil Aircraft); “large civil aircraft” (as in Annex II of the U.S.–E.C. bilateral agreement); “indirect support” (as in that Annex); the “Agreement on Trade in Civil Aircraft” (the agreement approved under section 2503); and the “U.S.–E.C. bilateral agreement” (the July 17, 1992 agreement).

Title 19, §3555

Customs Duties — Source: USLM XML via OLRC

(a)The principal negotiating objective of the United States in the extended negotiations on financial services to be conducted under the auspices of the WTO is to seek to secure commitments, from a wide range of commercially important developed and developing countries, to reduce or eliminate barriers to the supply of financial services, including barriers that deny national treatment or market access by restricting the establishment or operation of financial services providers, as the condition for the United States—

(1)offering commitments to provide national treatment and market access in each of the financial services subsectors, and

(2)making such commitments on a normal trade relations basis.

(b)The principal negotiating objective of the United States in the extended negotiations on basic telecommunications services to be conducted under the auspices of the WTO is to obtain the opening on nondiscriminatory terms and conditions of foreign markets for basic telecommunications services through facilities-based competition or through the resale of services on existing networks.

(c)(1)The principal negotiating objectives of the United States in the extended negotiations on trade in civil aircraft to be conducted under the auspices of the WTO are—

(A)to obtain competitive opportunities for United States exports in foreign markets substantially equivalent to those afforded to foreign products in the United States,

(B)to obtain the reduction or elimination of specific tariff and nontariff barriers, including through expanded membership in the Agreement on Trade in Civil Aircraft and in the US–EC bilateral agreement for large civil aircraft,

(C)to maintain vigorous and effective disciplines on subsidies practices with respect to civil aircraft products under the Agreement on Subsidies and Countervailing Measures referred to in section 3511(d)(12) of this title,

(D)to maintain the scope and coverage on indirect support as specified in the US–EC bilateral agreement on large civil aircraft, and

(E)to obtain increased transparency with respect to foreign subsidy programs in the civil aircraft sector, both through greater government disclosure with respect to the use of taxpayer moneys and higher financial disclosure standards for companies receiving government supports (including disclosure comparable to that required under United States securities laws).

(2)For purposes of paragraph (1)—

(A)the term “civil aircraft” means those products to which the Agreement on Trade in Civil Aircraft applies,

(B)the term “large civil aircraft” has the meaning given that term in Annex II to the US–EC bilateral agreement,

(C)the term “indirect support” means indirect government support as defined in Annex II to the US–EC bilateral agreement,

(D)the term “Agreement on Trade in Civil Aircraft” means the Agreement on Trade in Civil Aircraft approved by the Congress under section 2503 of this title, and

(E)the term “US–EC bilateral agreement” means the Agreement Concerning the Application of the GATT Agreement on Trade in Civil Aircraft Between the European Economic Community and the Government of the United States of America on trade in large civil aircraft, entered into on July 17, 1992.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1998—Subsec. (a)(2). Pub. L. 105–206 substituted “normal trade relations” for “most-favored-nation”.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on date on which WTO Agreement enters into force with respect to United States (Jan. 1, 1995), see section 138(b) of Pub. L. 103–465, set out as a note under section 3551 of this title.

§3555 Objectives for Extended Negotiations