GSP Renewal Act of 1995

GSP Renewal Act of 1995 - Amends the Trade Act of 1974 with respect to the Generalized System of Preferences (GSP). Authorizes the President to designate a country as a least-developed beneficiary developing country for extension of trade preferences under the GSP.

Makes Austria, Finland, and Sweden eligible for designation as beneficiary developing countries.

Declares that, for purposes of designating a beneficiary developing country, a country may be found to not provide protection of intellectual property rights, notwithstanding the fact that it may be in compliance with the specific obligations of the Agreement on Trade-Related Aspects of Intellectual Property Rights of the Uruguay Round Agreements Act.

Authorizes the President to withdraw or suspend duty-free treatment for the products of a country based on consideration of specified factors. Requires the President to: (1) withdraw or suspend the designation of a country as a beneficiary developing country if it is determined that changed circumstances would bar its designation as a beneficiary developing country; and (2) terminate the designation of a country as a beneficiary developing country if during any calendar year the official statistics of the International Bank for Reconstruction and Development demonstrate that such country has become a "high income" country. Requires the President to notify the Congress before designating or terminating a country as a beneficiary developing country.

Revises provisions on the designation of articles as eligible for preferential treatment. Authorizes the President to designate additional articles as eligible articles for countries designated as least-developed beneficiary developing countries if, after receiving advice from the International Trade Commission, it is determined that such articles are not import-sensitive. Prohibits an article that has been denied designation as an eligible article from being reconsidered for such designation for a three year period.

Prohibits, with respect to the President's withdrawing, suspending, or limiting the duty-free treatment of an eligible article, the establishment of a duty rate for such article other than the rate which would apply but for this Act.

Requires the President to terminate the duty-free treatment for an article from a beneficiary developing country (except least-developed beneficiary developing countries) whenever it is determined that such country has exported, directly or indirectly, to the United States during any calendar year a quantity of an eligible article: (1) having an appraised value in excess of $75 million (increased by $5 million on January 1 each calendar year after 1995); or (2) equal to or exceeding 50 percent of the appraised value of the total imports of such article into the United States during the calendar year. Authorizes waiver of such competitive need limitation in the national economic interest if any U.S. industry is unlikely to be adversely affected by it.

Prohibits any action under this Act from affecting any tariff duty imposed by the Legislature of Puerto Rico under the Tariff Act of 1930 on coffee imported into Puerto Rico.

Requires the President to report to the Congress on: (1) the operation of this Act; and (2) the status of internationally recognized worker rights within each beneficiary developing country.