Message to the Congress on Terminating the Designations of Seychelles, Uruguay, and Venezuela as Beneficiary Developing Countries Under the Generalized System of Preferences Program

To the Congress of the United States:

In accordance with section 502(f)(2) of the Trade Act of 1974, as amended (the "1974 Act") (19 U.S.C. 2462(f)(2)), I am providing notification of my intent to terminate the designations of Seychelles, Uruguay, and Venezuela as beneficiary developing countries under the Generalized System of Preferences (GSP) program. Section 502(e) of the 1974 Act (19 U.S.C. 2462(e)) provides that if the President determines that a beneficiary developing country has become a "high income" country, as defined by the official statistics of the International Bank for Reconstruction and Development of the World Bank (the "World Bank"), the President shall terminate the designation of such country as a beneficiary developing country for purposes of the GSP program, effective on January 1 of the second year following the year in which such determination is made.

Pursuant to section 502(e) of the 1974 Act, I have determined that it is appropriate to terminate the designations of Seychelles, Uruguay, and Venezuela as beneficiary developing countries under the GSP program, because they have become high income countries as defined by the World Bank. Accordingly, their eligibility for trade benefits under the GSP program will end on January 1, 2017.

BARACK OBAMA

The White House,

September 30, 2015.