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B-178239 1 (1973-12-06)

handle is hein.gao/gaobablap0001 and id is 1 raw text is: REFT TD - Not to be released outside the General Accountgng Office except on the bs - 1 . nppr~val 'Vb! the CVc of Leg kwive L-1poo a virzt Is kept RELtEASED WASHINGTON. DOC. 20540 B-178239 The Honorable Abraham Ribicoff, Chairman 0 Subcommittee on International Trade Committee on Finance C! United States Senate \- Dear Mr. Chairman: Your March 8, 1973, letter asked us to in$estga-te. thera-e-figjres pxrtecLina._print by the Senate Committee on Finance of the Sixth Annual Report of the President to the Congress on the Automotive Products Trade Act of 1965 and an addendum that contained statistical data fur- nished by the Tariff Co~mission. The report and the addendum contain information relating to U.S, automotive tradewith Canada for calendar year 1971. Department of Commerce officials prepared the report, including one 1Z schedule which showed the 1971 automotive trade balance with Canada to be a deficit of $1,185.3 million and another schedule which showed this bal- ance to be a deficit of $197 million. A third schedule, prepared by the Tariff Commission and included in the addendum, showed the balance to be a deficit of $1,374.8 million. Your letter stated that the explanation for these wide differences, appearing on page 15 of the report, is inade- quate. The results of our analysis of the components of the three deficits and the reasons for the differences between the three deficits are dis- cussed below. Both the $1,185.3 million deficit calculated by Commerce and the $1,374.8 million deficit calculated by the Commission were derived from Commerce's Bureau of the Census statistics. The import figures were based on legally defined customs values, and the export figures were based on values defined in Census Bureau regulations. The customs va~jl.is legally defjXw as the wholesale market value of the item in the foreign country from which the item is imported. Regu- lations dcefin the valuwe-o exparts as an amount based on selling price (or cost if not sol), Mincluding inland freight, insurance, and other charges to the U.S. port of exit. In calculating the $197 million deficit, Commerce used Canadian import data for U.S. exports. Imports were based on transaction values furnished by major automotive manufacturers. Transaction value, in

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