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Text of a Letter from the President to the Speaker of the House of
Representatives and the President of the Senate
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For Immediate Release Office of the Press Secretary June 30, 2008

Text of a Letter from the President to the Speaker of the House of
Representatives and the President of the Senate

ÿÿWhite House News


June 30, 2008

Dear Madam Speaker: (Dear Mr. President:)

In accordance with section 502(f) of the Trade Act of 1974, as amended (the
"1974 Act"), I am notifying the Congress of my intent to (a) designate the
Republic of Serbia (Serbia) and the Republic of Montenegro (Montenegro) as
separate beneficiary developing countries under the Generalized System of
Preferences (GSP); and (b) terminate the designation of Trinidad and Tobago
as a beneficiary developing country under the GSP.

In Proclamation 7912 of June 29, 2005, I designated Serbia and Montenegro
as a beneficiary developing country for purposes of the GSP. On June 3,
2006, Montenegro declared indepen-dence from Serbia and Montenegro and the
country separated into two independent republics, the Republic of Serbia
and the Republic of Montenegro. Pursuant to section 502 of the 1974 Act,
and having considered the factors set forth in sections 501 and 502(c), I
have determined that, in light of the separation of Serbia and Montenegro
into two countries, the Republic of Serbia and the Republic of Montenegro
should each be designated as beneficiary developing countries for purposes
of the GSP.

Section 502(e) of the 1974 Act, provides that the President shall terminate
the designation of a country as a beneficiary developing country for
purposes of the GSP if the President determines that such country has
become a "high income" country as defined by the official statistics of the
International Bank for Reconstruction and Development. Termination is
effective on January 1 of the second year following the year in which such
determination is made. I have determined that Trinidad and Tobago has
become a "high income" country, and I am terminating the designation of
that country as a beneficiary developing country for purposes of the GSP,
effective January 1, 2010.

Sincerely,

GEORGE W. BUSH

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