A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(U.S.) The UBO of a U.S. affiliate is that person, proceeding up the affiliate's ownership chain beginning with and including the foreign parent, that is not owned more than 50 percent by another person. The UBO consists of only the ultimate owner, other affiliated persons are excluded. If the foreign parent is not owned more than 50 percent by another person, the foreign parent and the UBO are the same. A UBO, unlike a foreign parent, may be a U.S. person. ultimate consignee (shipping) The person who is the true party in interest, receiving goods for the designated end-use. ultimo day (finance/foreign exchange) The last business day or last stock trading day of a month. ultra vires (law) An act performed without authority to do so. If a contract provision, for example, requires both parties to approve an assignment of the contract but one party agrees to an assignment without obtaining the other's consent, the assignment is ultra vires. unclean bill of lading See claused bill of lading; bill of lading; ocean bill of lading. unconfirmed (banking) A documentary letter of credit where the advising bank makes no commitment to pay, accept or negotiate. See letter of credit; silent confirmation. unconscionable (law) Unfair or oppressive. A contract with unconscionable terms, for example, favors one party over the other to such an extent that it is unjust, and if the oppressed party made the contract under duress or without meaningful negotiation as to the terms, a court may refuse to enforce it against that party. underdeveloped country (economics) A nation in which per capita real income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. See also less developed countries; least developed country; lesser developed country. unfair trade practice (general) Unusual government support to firms--such as export subsidies to certain anti-competitive practices by firms themselves--such as dumping, boycotts or discriminatory shipping arrangements-- that result in competitive advantages for the benefiting firms in international trade. (U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ultimate consignee
(shipping) The person who is the true party in interest, receiving goods for the designated end-use. ultimo day (finance/foreign exchange) The last business day or last stock trading day of a month. ultra vires (law) An act performed without authority to do so. If a contract provision, for example, requires both parties to approve an assignment of the contract but one party agrees to an assignment without obtaining the other's consent, the assignment is ultra vires. unclean bill of lading See claused bill of lading; bill of lading; ocean bill of lading. unconfirmed (banking) A documentary letter of credit where the advising bank makes no commitment to pay, accept or negotiate. See letter of credit; silent confirmation. unconscionable (law) Unfair or oppressive. A contract with unconscionable terms, for example, favors one party over the other to such an extent that it is unjust, and if the oppressed party made the contract under duress or without meaningful negotiation as to the terms, a court may refuse to enforce it against that party. underdeveloped country (economics) A nation in which per capita real income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. See also less developed countries; least developed country; lesser developed country. unfair trade practice (general) Unusual government support to firms--such as export subsidies to certain anti-competitive practices by firms themselves--such as dumping, boycotts or discriminatory shipping arrangements-- that result in competitive advantages for the benefiting firms in international trade. (U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ultimo day
(finance/foreign exchange) The last business day or last stock trading day of a month. ultra vires (law) An act performed without authority to do so. If a contract provision, for example, requires both parties to approve an assignment of the contract but one party agrees to an assignment without obtaining the other's consent, the assignment is ultra vires. unclean bill of lading See claused bill of lading; bill of lading; ocean bill of lading. unconfirmed (banking) A documentary letter of credit where the advising bank makes no commitment to pay, accept or negotiate. See letter of credit; silent confirmation. unconscionable (law) Unfair or oppressive. A contract with unconscionable terms, for example, favors one party over the other to such an extent that it is unjust, and if the oppressed party made the contract under duress or without meaningful negotiation as to the terms, a court may refuse to enforce it against that party. underdeveloped country (economics) A nation in which per capita real income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. See also less developed countries; least developed country; lesser developed country. unfair trade practice (general) Unusual government support to firms--such as export subsidies to certain anti-competitive practices by firms themselves--such as dumping, boycotts or discriminatory shipping arrangements-- that result in competitive advantages for the benefiting firms in international trade. (U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ultra vires
(law) An act performed without authority to do so. If a contract provision, for example, requires both parties to approve an assignment of the contract but one party agrees to an assignment without obtaining the other's consent, the assignment is ultra vires. unclean bill of lading See claused bill of lading; bill of lading; ocean bill of lading. unconfirmed (banking) A documentary letter of credit where the advising bank makes no commitment to pay, accept or negotiate. See letter of credit; silent confirmation. unconscionable (law) Unfair or oppressive. A contract with unconscionable terms, for example, favors one party over the other to such an extent that it is unjust, and if the oppressed party made the contract under duress or without meaningful negotiation as to the terms, a court may refuse to enforce it against that party. underdeveloped country (economics) A nation in which per capita real income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. See also less developed countries; least developed country; lesser developed country. unfair trade practice (general) Unusual government support to firms--such as export subsidies to certain anti-competitive practices by firms themselves--such as dumping, boycotts or discriminatory shipping arrangements-- that result in competitive advantages for the benefiting firms in international trade. (U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
unclean bill of lading
See claused bill of lading; bill of lading; ocean bill of lading. unconfirmed (banking) A documentary letter of credit where the advising bank makes no commitment to pay, accept or negotiate. See letter of credit; silent confirmation. unconscionable (law) Unfair or oppressive. A contract with unconscionable terms, for example, favors one party over the other to such an extent that it is unjust, and if the oppressed party made the contract under duress or without meaningful negotiation as to the terms, a court may refuse to enforce it against that party. underdeveloped country (economics) A nation in which per capita real income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. See also less developed countries; least developed country; lesser developed country. unfair trade practice (general) Unusual government support to firms--such as export subsidies to certain anti-competitive practices by firms themselves--such as dumping, boycotts or discriminatory shipping arrangements-- that result in competitive advantages for the benefiting firms in international trade. (U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
unconfirmed
(banking) A documentary letter of credit where the advising bank makes no commitment to pay, accept or negotiate. See letter of credit; silent confirmation. unconscionable (law) Unfair or oppressive. A contract with unconscionable terms, for example, favors one party over the other to such an extent that it is unjust, and if the oppressed party made the contract under duress or without meaningful negotiation as to the terms, a court may refuse to enforce it against that party. underdeveloped country (economics) A nation in which per capita real income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. See also less developed countries; least developed country; lesser developed country. unfair trade practice (general) Unusual government support to firms--such as export subsidies to certain anti-competitive practices by firms themselves--such as dumping, boycotts or discriminatory shipping arrangements-- that result in competitive advantages for the benefiting firms in international trade. (U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
unconscionable
(law) Unfair or oppressive. A contract with unconscionable terms, for example, favors one party over the other to such an extent that it is unjust, and if the oppressed party made the contract under duress or without meaningful negotiation as to the terms, a court may refuse to enforce it against that party. underdeveloped country (economics) A nation in which per capita real income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. See also less developed countries; least developed country; lesser developed country. unfair trade practice (general) Unusual government support to firms--such as export subsidies to certain anti-competitive practices by firms themselves--such as dumping, boycotts or discriminatory shipping arrangements-- that result in competitive advantages for the benefiting firms in international trade. (U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
underdeveloped country
(economics) A nation in which per capita real income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. See also less developed countries; least developed country; lesser developed country. unfair trade practice (general) Unusual government support to firms--such as export subsidies to certain anti-competitive practices by firms themselves--such as dumping, boycotts or discriminatory shipping arrangements-- that result in competitive advantages for the benefiting firms in international trade. (U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
unfair trade practice
(general) Unusual government support to firms--such as export subsidies to certain anti-competitive practices by firms themselves--such as dumping, boycotts or discriminatory shipping arrangements-- that result in competitive advantages for the benefiting firms in international trade. (U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(U.S.) Any act, policy, or practice of a foreign government that: (1) violates, is inconsistent with, or otherwise denies benefits to the U.S. under any trade agreement to which the United States is a party; (2) is unjustifiable, unreasonable, or discriminatory and burdens or restricts United States commerce; or (3) is otherwise inconsistent with a favorable Section 301 determination by the U.S. Trade Representative. See Section 301; dumping. Uniform Commercial Code (U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Uniform Commercial Code
(U.S. law) A set of statutes purporting to provide some consistency among states' commercial laws. It includes uniform laws dealing with bills of lading, negotiable instruments, sales, stock transfers, trust receipts, and warehouse receipts. Uniform Customs and Practice (UCP) (banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Uniform Customs and Practice (UCP)
(banking) Full name: Uniform Customs and Practice for Documentary Credits (UCPDC). The internationally recognized codification of rules unifying banking practice regarding documentary credits (letters of credit). The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
The UCPDC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 500 which is the 1993 edition. It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
It is highly recommended that all documentary credits (letters of credit) specify that they are subject to the UCPDC. See letter of credit; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the UCPDC. Uniform Rules for Collections (URC) (banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Uniform Rules for Collections (URC)
(banking) The internationally recognized codification of rules unifying banking practice regarding collection operations for drafts, their payment or non-payment, protest and for documentary collections, (documents against payment, D/P, and documents against acceptance, D/A). The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
The URC was developed by a working group attached to the International Chamber of Commerce (ICC) in Paris, France. It is revised and updated from time to time and the current valid version as of January 1, 1994 is ICC Publication 322. See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
See documentary collection; International Chamber of Commerce; and the Appendix for a listing of ICC publications that relate to the URC. United Nations Conference on Trade and Development (UNCTAD) UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United Nations Conference on Trade
UNCTAD was set up in December 1964 as a permanent organ of the UN General Assembly. UNCTAD promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems. UNCTAD also examines problems of economic development within the context of principles and policies of international trade and seeks to harmonize trade, development, and regional economic policies. The Conference was first convened (UNCTAD-1) in Geneva in 1964. United Nations Industrial Development Organization (UNIDO) Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United Nations Industrial Development Organization (UNIDO)
Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training. Address: United Nations Industrial Development Organization, PO Box 300, 1400 Vienna, Austria; Tel: [43] (1) 21-13-10; Telex: 135612; Fax: [43] (1) 23-21-56. United States Affiliate (U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Affiliate
(U.S. foreign investment) A U.S. business enterprise in which there is foreign direct investment-that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of its voting securities if the enterprise is incorporated or an equivalent interest if the enterprise is unincorporated. The affiliate is called a U.S. affiliate to denote that the affiliate is located in the U.S. (although it is owned by a foreign person). See foreign person; affiliate. United States and Foreign Commercial Service (US&FCS) (U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States and Foreign Commercial Service (US&FCS)
(U.S.) An agency of the U.S. Department of Commerce that helps U.S. firms compete more effectively in the global marketplace. The US&FCS has a network of trade specialists in 68 U.S. cities and 66 countries worldwide. US&FCS offices provide information on foreign markets, agent/distributor location services, trade leads, and counseling on business opportunities, trade barriers and prospects abroad. Address: United States and Foreign Commercial Service, International Trade Administration, Department of Commerce, Room 3802, Washington, DC 20230; Tel: [1] (202) 482-5777; Fax: (202) 482-5013. United States-Canada Free Trade Agreement (FTA) The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States-Canada Free Trade Agreement (FTA)
The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA not only reduced tariffs on imported merchandise between Canada and the U.S., but opened up new areas of trade in investment services, agriculture, and business travel. In order to be eligible for FTA treatment, goods must not enter the commerce of a third country, or, if shipped through a third country, must remain under customs control. Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Several publications about the United States-Canada Free Trade Agreement are available from: the National Technical Information Service (NTIS), 5285 Port Royal Road, Springfield, VA 22161; Tel: [1] (703) 487-4650; Revenue Canada, 875 Heron Rd., Ottawa, ON K1A 0L8, Canada; Tel: [1] (613) 993-0534. Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Other sources of information about the agreement can be obtained from the Office of Canada, U.S. Department of Commerce, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-3101 and from the Office of North American Affairs, Office of the United States Trade Representative (USTR), Room 501, 600 17th St. NW, Washington, DC 20506; Tel: [1] (202) 395-3412. United States Code (USC) (U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Code (USC)
(U.S. law) A set of volumes containing the official compilation of U.S. law. A new edition of the USC is printed every six years with supplemental volumes issued every year. The USC is found in larger public libraries and is available for purchase from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; Tel: (202) 512-1800. There are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs House Guide (publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Customs House Guide
(publication) A 2,200 page reference for importing to the United States. Profiles of U.S. and Canadian ports, tariff schedules, customs regulations plus service directories. Publisher: Global Trade Publishing Group, 401 North Broad Street, Philadelphia, PA 19108; In the U.S. Tel: [1] (800) 777-8074. United States Customs Service (U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Customs Service
(U.S. Customs) U.S. governmental agency, whose major responsibility is to administer the Tariff Act of 1930, as amended. Primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties. As a major enforcement organization, the Customs Service combats smuggling and fraud on the revenue and enforces the regulations of numerous other federal agencies at ports of entry and along the land and sea borders of the U.S. The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
The customs territory of the United States consists of the 50 states, the District of Columbia, and Puerto Rico. The Customs Service, an agency under the Department of Treasury, has its headquarters in Washington, DC and is headed by a Commissioner of Customs. The field organization consists of seven geographical regions further divided into districts with ports of entry within each district. These organizational elements are headed respectively by regional commissioners, district directors (or area directors in the case of the New York Region), and port directors. The Customs Service is also responsible for administering the customs laws of the Virgin Islands of the United States. Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Address: U.S. Customs Service Headquarters, 1301 Constitution Avenue NW, Washington, DC 20229; Tel: [1] (202) 927-1000. U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
U.S. Customs regional and district offices are in Boston, Massachusetts; New York, NY; Miami, Florida; New Orleans, Louisiana; Houston, Texas; Los Angeles, California; and Chicago, Illinois. The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
The U.S. Customs Service also has offices in Austria, Belgium, Canada, France, Hong Kong, Italy, Japan, Korea, Mexico, The Netherlands, Panama, Singapore, Thailand, The United Kingdom, Uruguay, and Germany. These offices are a part of the U.S. Embassy complex in each country. United States Department of Agriculture (DOA) (U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Department of Agriculture (DOA)
(U.S. government) An executive department which serves as the principal adviser to the president on agricultural policy. The Department works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. Organizations within the Department of Agriculture include: Agricultural Marketing Service, Agricultural Stabilization and Conservation Service, Animal and Plant Inspection Service, the Commodity Credit Corporation, the Extension Service, the Farmers Home Administration, Federal Grain Inspection Service, the Food and Inspection Service, the Food Safety and Inspection Service, the Foreign Agricultural Service, Forest Service, Rural Electrification Administration, Soil Conservation Service. Address: United States Department of Agriculture, 14th St. and Independence Ave. SW, Washington, DC 20250; Tel: [1] (202) 720-2791. Foreign Agricultural Service; Tel: [1] (202) 720-7115. United States Department of Commerce (DOC) (U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Department of Commerce (DOC)
(U.S. government) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. The Department provides a wide variety of programs to increase American competitiveness in the world economy and to assist business. The DOC also: works to prevent unfair foreign trade competition, provides social and economic statistics and analyses, supports the increased use of scientific engineering and technological development, grants patents and registers trademarks, and provides assistance to promote domestic economic development. Organizations within the DOC include the Bureau of Export Administration, Tel: [1] (202) 482-2000; the Census Bureau, Tel: [1] (301) 763-7662; the Economic Development Administration, Tel: [1] (202) 482-2000; the International Trade Administration, Tel: [1] (202) 482-2000; the Minority Business Development Agency, Tel: [1] (202) 482-2000; the National Institute of Standards and Technology, Tel: [1] (301) 975-2000; the National Oceanic and Atmospheric Administration, Tel: [1] (301) 443-8910; the Patent and Trademark Office, Tel: [1] (703) 305-8341 (Public Affairs) or [1] (800) 786-9199; the Technology Administration, Tel: [1] (202) 482-2100; and the U.S. Travel and Tourism Administration, Tel: [1] (202) 482-0137. Address: United States Department of Commerce, 14th Street & Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-2000. See also Bureau of Export Administration; International Trade Administration. United States Department of Defense (U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Department of Defense
(U.S. government) A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. There are three departments within the Department of Defense: the Air Force, Army, and Navy. Address: United States Department of Defense, The Pentagon, Washington, DC 20301; Tel: [1] (703) 697-5737. United States Department of Energy (DOE) (U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Department of Energy (DOE)
(U.S. government) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. Organizations under the department include the Economic Regulatory Administration, the Energy Information Administration, and the Federal Energy Regulatory Commission. Address: United States Department of Energy, 1000 Independence Ave. SW, Washington, DC 20585; Tel: [1] (202) 586-5806. United States Department of Labor (DOL) (U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Department of Labor (DOL)
(U.S. government) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. Organizations under the Department include the Bureau of Labor Statistics, the Employment and Training Administration, the Employment Standards Administration, Labor-Management Standards, the Mine Safety and Health Administration, Occupational Safety and Health, and the Pension and Welfare Benefits Administration. Address: United States Department of Labor, 200 Constitution Ave. NW, Washington, DC 20210; Tel: [1] (202) 219-6666. United States Department of State (U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Department of State
(U.S. government) An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. Organizations within the Department include the Bureau of Consular Affairs, the Bureau of Economic and Business Affairs, the Bureau of Intelligence and Research, the Bureau of International Organization Affairs, and the Bureau of Oceans. Address: United States Department of State, 2201 C St. NW, Washington, DC 20520; Tel: [1] (202) 647-4000. United States Department of the Interior (DOI) (U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Department of the Interior (DOI)
(U.S. government) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. Organizations under the DOI include: the Bureau of Indian Affairs, the Bureau of Land Management, the Bureau of Mines, the Bureau of Reclamation, the Minerals Management Service, the National Park Service, the U.S. Fish and Wildlife Service, and the U.S. Geological Survey. Address: United States Department of the Interior, 1849 C St. NW, Washington, DC 20240; Tel: [1] (202) 208-3171. United States Department of the Treasury (U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Department of the Treasury
(U.S. government) An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and manufacturing coins and currency. The International Affairs unit is responsible for Department activities in international monetary affairs, trade and investment policy, international debt strategy, and U.S. participation in international financial institutions. The Under Secretary of the International Affairs unit acts as the U.S. Group of Seven (G-7) Deputy. Organizations within the Department include the Bureau of Alcohol, Tobacco and Firearms; the Bureau of Engraving and Printing; the Comptroller of the Currency; the Internal Revenue Service; the Office of Thrift Supervision; the U.S. Customs Service; the U.S. Mint; the U.S. Secret Service. Address: United States Department of the Treasury, 15th St. & Pennsylvania Ave. NW, Washington, DC 20220; Tel: [1] (202) 622-2000. See also Group of Seven (G-7); United States Customs Service; Bureau of Alcohol, Tobacco and Firearms. United States Department of Transportation (DOT) (U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Department of Transportation (DOT)
(U.S. government) An executive department of the U.S. government established by the Department of Transportation Act of 1966 (80 Stat 931) for the purpose of developing national transportation policies. Organizations within the Department of Transportation include the Federal Aviation Administration, the Federal Highway Administration, the Federal Railroad Administration, the Federal Transit Administration, the Maritime Administration, the National Highway Traffic Safety Administration, the Research and Special Programs Administration, the St. Lawrence Seaway Development Corporation, and the U.S. Coast Guard. Address: United States Department of Transportation, 400 7th Street SW, Washington, DC 20590; Tel: [1] (202) 366-4000. United States Foreign Trade Definitions An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Foreign Trade Definitions
An obsolete standard of trade terms, although they are sometimes specified in U.S. domestic contracts. The international standard of trade terms is Incoterms 1990. See Incoterms 1990. United States Information Agency (USIA) (U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Information Agency (USIA)
(U.S. government) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities--academic and cultural exchanges to press, radio, television and library programs abroad--in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. Overseas, the USIA is known as the U.S. Information Service (USIS). Address: United States Information Agency, 301 Fourth Street SW, Washington, DC 20547; Tel: [1] (202) 619-4700. United States International Trade Commission (U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States International Trade Commission
(U.S. government) Formerly the U.S. Tariff Commission, which was created in 1916 by an Act of Congress. Its mandate was broadened and its name changed by the Trade Act of 1974. It is an independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. It also studies the probable economic impact on specific U.S. industries of proposed reductions in U.S. tariffs and non-tariff barriers to imports. Its six members are appointed by the President with the advice and consent of the U.S. Senate for nine-year terms (six-year terms prior to 1974). Address: International Trade Commission, 500 E Street SW, Washington, DC 20436; Tel: [1] (202) 205-2511. United States-Japan Semiconductor Trade Arrangement See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States-Japan Semiconductor Trade Arrangement
See Semiconductor Trade Arrangement. United States Munitions List (U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Munitions List
(U.S.) The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear-related items. Under Presidential directive, most dual-use items are to be transferred from the USML to the Commerce Department's dual-use list. The Department of State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitiveness that apply to dual-use items. See International Munitions List; United States Department of State. United States price (U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States price
(U.S.) In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. See dumping. United States Trade and Development Agency (U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Trade and Development
(U.S. government) An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. It also coordinates government-to-government technical assistance. Address: United States Trade and Development Agency, Room 309, State Annex 16, Washington, DC 20523-1602; Tel: [1] (703) 875-4357. United States Trade Representative (U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Trade Representative
(U.S. government) A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports; U.S. participation in the General Agreement on Tariffs and Trade (GATT), commodity issues; East-West and North-South trade; and direct investment related to trade. As Chairman of the U.S. Trade Policy Committee he is also the primary official responsible for U.S. participation in all international trade negotiations. Prior to the Trade Agreements Act of 1979, which created the Office of the U.S. Trade Representative, the comparable official was known as the President's Special Representative for Trade Negotiations (STR), a position first established by the Trade Expansion Act of 1962. Address: United States Trade Representative, 600 17th St. NW, Room 522, Washington, DC 20508; Tel: [1] (202) 395-3204. United States Travel and Tourism Administration (USTTA) (U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
United States Travel and Tourism
(U.S. government) An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional, state and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers. Address: United States Travel and Tourism Administration, 14th St. and Constitution Ave. NW, Washington, DC 20230; Tel: [1] (202) 482-0137. unitization (shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
unitization
(shipping) The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. unit load (shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
unit load
(shipping) The strapping or banding together of a number of individual cartons, packages, sacks, drums or other cargo, often on a pallet, in order to create a single unit. unit load device (shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
unit load device
(shipping) Term commonly used when referring to containers and pallets. universal agency See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
universal agency
See agency. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Universal Copyright Convention
An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. See copyright; trademark; service mark. unloading (shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
unloading
(shipping) The physical removal of cargo from carrier's container. unrestricted letter of credit (banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
unrestricted letter of credit
(banking) A letter of credit which may be negotiated through any bank of the beneficiary's choice. See letter of credit. Uruguay Round (GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Uruguay Round
(GATT) The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. The major goals of the Uruguay Round were to reduce barriers to trade in goods; to strengthen the role of GATT and improve the multilateral trading system; to increase the responsiveness of GATT to the evolving international economic environment; to encourage cooperation in strengthening the inter-relationship between trade and other economic policies affecting growth and development; and the establishment of a multilateral framework of principles and rules for trade in services, including the elaboration of possible disciplines for individual service sectors. As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
As a result of the Uruguay Round, global tariffs are expected to be reduced by 30 percent. Economists have predicted that, as a result, GATT will expand the world's economy by US$200 to 300 billion. Key provisions of the Uruguay Round agreements are: a reduction of import tariffs, with an overall cut of more than 33 percent of global tariffs; a gradual reduction of 36 percent of government subsidies for farmers; a phasing-out of import protection for textile producers in industrialized countries allowing more open markets for entry of cheaper products from Third World countries; stricter anti-dumping rules; greater global protection of intellectual property rights, including patents and copyrighted goods such as films and music. Although agriculture and other industries were brought under GATT for the first time, certain industries (such as the entertainment industry) were, in the end, excluded from the Round negotiations in order for negotiators to reach a final agreement. Particularly disappointing to many was the lack of progress in opening access to the trade of financial services, such as banking, accounting, and insurance. Representatives will meet to sign the agreement on April 15, 1994 in Morocco; most aspects of it go into effect July 1, 1995. Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Agreements reached at the Uruguay Round cover: (1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(1) Market Access for Goods--Tariffs will be reduced by an average of one-third, with the U.S. and other major industrial nations eliminating tariffs altogether on some products, by one-half on others, while cutting tariffs much less in the rest of the world. (2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(2) Agriculture--Strengthens long-term rules for agricultural trade and assures reduction of specific policies that distort agricultural trade. Addresses export subsidies, domestic subsidies, market access. Agricultural export subsidies and some farm subsidies are subject to multilateral disciplines, and must be bound and reduced. Many non-tariff measures, including quotas will be converted to low tariffs over time. (3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(3) Textiles and Clothing--The Multi-Fiber Arrangement (MFA), a system of quotas that limits imports of textiles and apparel to the U.S. and other developed countries, will be phased out over a 10 year period. The quotas will eventually be replaced by tariffs. (4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(4) Safeguards--Provides incentives for countries to use GATT safeguard rules when import-related, serious injury problems occur. (5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(5) Antidumping--Revises the 1979 Antidumping Code, by improving provisions to define, deter, and discourage the use of dumping practices. Disputes between GATT members will be settled by binding dispute settlement. (6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(6) Subsidies and Countervailing Measures--Establishes clearer rules and stronger disciplines in the subsidies area while also making certain subsidies non-actionable. (7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(7) Trade-related Investment Measures (TRIMs)--Limits the ability of countries to favor domestically owned factories at the expense of foreign-owned ones. Prohibits local content and trade balancing requirements. A 5 to 7-year transition period for developing and least-developed countries is provided. (8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(8) Import Licensing Procedures--More precisely defines automatic and non-automatic licensing. Signatories that adopt new procedures must notify the Import Licensing Committee within 60 days and provide information about it. (9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(9) Customs Valuation--Amendments to the Customs Valuation Code will help stem fraud, retain established minimum values, and encourage developing countries to study areas of concern in customs valuation. (10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(10) Preshipment Inspection--Regulates activities of Preshipment Inspection companies and reduces impediments to international trade resulting from the use of such companies, particularly in developing countries where they may supplement or replace national customs services. (11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(11) Rules of Origin--A program will be implemented to harmonize rules for determination of the origin of goods. Establishes a GATT Committee on Rules of Origin and a Customs Cooperation Council Technical Committee on Rules of Origin. (12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(12) Technical Barriers to Trade--The agreement updates and improves rules respecting standards, technical regulations and conformity assessment procedures. (13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(13) Sanitary and Phytosanitary Measures--Establishes rules for the development of measures which are taken to protect human, animal or plant life or health in food safety or agriculture. Includes quarantine procedures, food processing measures, meat inspection rules, procedures for approval of food additives or use of pesticides. (14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(14) Services--The General Agreement on Trade in Services (GATS) is the first multilateral, legally enforceable agreement covering trade investment in the service sectors. Principal elements include most-favored-nation treatment, national treatment, market access, transparency, and the free flow of payments and transfers. (15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(15) Trade-Related Intellectual Property Rights (TRIPs)--Establishes improved standards for the protection of a full range of property rights and the enforcement of those standards both internally and at the border. Covers: copyrights, patents, trademarks, industrial designs, trade secrets, integrated circuits, and geographical indications. Provides a 20-year term of protection for most of these rights. (16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(16) Dispute Settlement--The Dispute Settlement Understanding (DSU) creates new procedures for settlement of disputes arising under any of the Uruguay Round agreements. (17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(17) World Trade Organization (WTO)--A new organization available only to countries that are contracting parties to the GATT and that agree and adhere to all of the Uruguay Round agreements. Encompasses and extends the current GATT structure. The intention is for the new WTO to have a stature similar to that of the Bretton Woods financial institutions, the World Bank, and the International Monetary Fund. (18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(18) GATT Articles--Updates articles relating to balance-of-payment reform, state trading enterprises, regional trading arrangements, and waivers of obligation. (19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(19) Trade Policy Review Mechanism--Provides for regular examination of national trade policies and other economic policies bearing on international trading. (20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(20) Ministerial Decisions and Declaration--States the views and objectives of the Uruguay Round participants on a number of issues relating to the operation of the global trading system. (21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(21) Government Procurement--A new Agreement on Government Procurement replaces the existing agreement. Now includes procurement of services and construction and some coverage of subcentral governments and government-owned utilities. For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
For more information, call the 24-hour Uruguay Round Hotline at (800) USA-TRADE. You must have a touchtone telephone and a fax machine. See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
See also General Agreement on Tariffs and Trade; rounds; Tokyo Round. U.S. ... See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
U.S. ...
See United States .... users fees (U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
users fees
(U.S. Customs) Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. (a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(a) The harbor maintenance fee is an ad valorem fee assessed on cargo imports and admissions into foreign trade zones. The fee is 0.125 percent of the value of the cargo and is paid quarterly, except for imports which are paid at the time of entry. Customs deposits the harbor maintenance fee collections into the Harbor Maintenance Trust Fund. The funds are made available, subject to appropriation, to the Army Corps of Engineers for the improvement and maintenance of U.S. ports and harbors. (b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(b) The merchandise processing fee sets a fee schedule for formal entries (generally, those valued over US$1,250) at a minimum of US$21 per entry and a maximum of US$400 per entry, with an ad valorem rate of 0.17 percent. The fee for informal entries (those valued at under US$1,250) is US$2 for automated entries, US$5 for manual entries not prepared by Customs, and US$8 for manual entries prepared by Customs. usuance (banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
usuance
(banking) The time allowed for payment of an international obligation. A usuance credit is a credit available against time drafts. See letter of credit; usance letter of credit. usance letter of credit (banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
usance letter of credit
(banking) A documentary letter of credit which is not available by sight payment and which is therefore available against: (1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(1) acceptance of a term bill of exchange, (2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(2) or in certain usages by deferred payment. See letter of credit. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z