Letter to the Speaker of the House of Representatives and the President of the Senate Transmitting the Report on the Generaliz

Dear Mr. Speaker: (Dear Mr. President:)

I herewith transmit my report on the Generalized System of Preferences (GSP), as required by the Trade Act of 1974, as amended (``the Act'').

Section 504(a)(2) of the Act (19 U.S.C. 2464(a)(2)) requires that I report no later than January 4, 1988, on the application of sections 501 and 502(c) of the Act to the GSP program. It also requires me to document the actions I have taken to limit the application of duty-free treatment under the program with respect to any country which has failed to adequately take the actions described in section 502(c).

Sincerely,

Ronald Reagan

Note: Identical letters were sent to Jim Wright, Speaker of the House of Representatives, and George Bush, President of the Senate.