The U.S. International Trade Commission (ITC) has launched an investigation that will lead to the third update of its report on the economic effects of significant U.S. import restraints.

The investigation, The Economic Effects of Significant U.S. Import Restraints: Third Update, (Inv. No. 332-325) was requested by the Office of the U.S. Trade Representative (USTR) in May 1992. That request called for an initial investigation and subsequent updates. The first report in response to this request was issued in November 1993. The first update was published in December 1995, the second update was published in May 1999, and the current update will be delivered to the USTR in June 2002.

The ITC, an independent, nonpartisan, factfinding federal agency, will examine the effects of import restraints on U.S. consumers, on the activities of U.S. firms, on the income and employment of U.S. workers, and on the net economic welfare of the United States. The study will look at the effects of major tariffs and non-tariff barriers, but will not include the effects of import restraints resulting from final antidumping or countervailing duty investigations, section 337, section 201, or section 406 investigations, or section 301 actions.

The ITC is seeking input for its investigation from all interested parties. A public hearing will be held in connection with this investigation on December 4, 2001. Requests to appear at the hearing should be filed no later than 5:15 p.m. on November 14, 2001, with the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Hearing statements should be filed no later than 5:15 p.m. on January 10, 2002.

The ITC also welcomes written submissions for the record. Submissions (one original and 14 copies) should be addressed to the Secretary at the above address and should be submitted at the earliest practical date but no later than 5:15 p.m. on January 10, 2002. All written submissions, except for confidential business information, will be available for public inspection.

Further information on the scope of the investigation and appropriate submissions is available in the ITC's notice of investigation, dated August 13, 2001, which may be obtained from the ITC Internet server (www.usitc.gov) or by contacting the Secretary at the above address or at 202-205-1802.

ITC general factfinding investigations, such as this one, cover matters related to tariffs or trade, and are generally conducted at the request of the U.S. Trade Representative, the Senate Committee on Finance or the House Committee on Ways and Means. The resulting reports convey the Commission's objective findings and independent analyses on the subjects investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the ITC submits its findings and analyses to the requestor. General factfinding investigation reports are subsequently released to the public, unless they are classified by the requestor for national security reasons.