Trump returned Ukraine to the General system of preferences of the United States

Ukraine from October 30, 2019, will return to the Generalized System of Preferences of the USA, follows from the statement of the President of the USA Donald Trump.

“On Saturday (October 26) in Kyiv, on Friday evening in Washington, the news came out that Trump has fully returned Ukraine to the General system of preferences,” said trade representative-Deputy Minister of economic development, trade, and agriculture Taras Kachka at a press briefing on Monday.

He noted that all 155 types of goods that were removed from the system of preferences will again be able to trade duty-free in the United States. According to him, it is mainly food processing products – confectionery products, as well as industrial products, especially complex engineering.

He explained that the return to the system of preferences was made possible by the progress in the implementation of the new legislation on collective management organizations (CMO).

“This is unlikely to affect trade statistics, as these are non-mass goods, but will have a positive impact on small and medium-sized businesses,” Kachka said.

As reported, in 2018, the United States suspended the Generalized system of preferences, which allows you to import in the US duty-free more than 3.5 thousand types of goods for 155 types of Ukrainian goods due to systematic copyright violations.

Author: Flyn Braun
Graduated from Cambridge University. Previously, he worked in various diferent news media. Currently, it is a columnist of the us news section in the Free News editors.
Function: Editor