Competitive-need Limitation

Competitive-need limitation in Global Commerce Policy

In this regard, competitive-need limitation is: an aspect of the administration of the United States GSP scheme. The entries on trade policy are here. If in any calendar year imports of a given product from a beneficiary country account for more than 50% of United States imports of that product, the exporting country’s eligibility for benefits for that product is terminated. Similarly, once a country’s share of exports to the United States of a given product exceeds a specified value, benefits will also be terminated. The specified value varies from year to year. The competitive-need limitation may be waived in certain circumstances, especially if the exporting country gives reasonable access to United States goods and services, and if it offers proper protection for United States- owned intellectual property rights. Many least developed countries enjoy automatic waivers from the limitation. See also graduation.[1]

Competitive-need limitationin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Competitive-need limitation” entry (OAS)

See Also