Trade News:

In January 2007, President Bush designated East Timor as a least developed beneficiary developing country (LDBDC) under the Generalized System of Preferences (GSP) program.  Congress created the U.S. GSP program in 1974 to expand the choices of American industry and consumers while creating economic opportunities in developing countries. The GSP program provides preferential duty-free treatment for 3,400 products from 134 designated beneficiary developing countries (BDCs) and territories.  In 1996, an additional 1,400 articles from just least LDBDCs, such as East Timor, were made eligible for duty-free treatment.  There are 43 LDBDCs currently eligible. 

Trade Data:

U.S. goods exports in 2006 were $12 million (mostly repaired imports).  Corresponding U.S. imports from East Timor were $12 thousand (mostly returns).