TRADE ALERT

Key Trade Legislation Sent to President by Congress

(December 11, 2006)

The President is expected to sign this legislation into law. Highlights are provided below.

GSP- The bill extends the Generalized System of Preferences (GSP) program, which provides for duty-free import of thousands of items from 133 beneficiary developing countries. 

Vietnam- Will join 149 other members of the World Trade Organization (WTO).

Andean Trade Preference Act (ATPA)- Authorizes eligible products from four Andean countries – Bolivia, Colombia, Ecuador, and Peru – to enter the United States duty-free. 

African Growth and Opportunity Act (AGOA)- Related to apparel made in sub-Saharan African countries. 

Haitian Hemispheric Opportunity through Partnership Encouragement Act (HOPE)- This adds a new provision to the Caribbean Basin Initiative which allows duty-free treatment for certain products from Haiti.

For further details please refer to the following website: http://www.ustr.gov/Document_Library/Press_Releases/2006/December/US_Trade_Representative_Schwab_Welcomes_Bipartisan_Senate_Vote_Approving_Key_Trade_Legislation.html

Deringer's consulting & regulatory affairs group offers a full scope of services to support importers/exporters, carriers, and supply chain partners, and can assist importers in obtaining rulings and researching how these modifications may affect them. For more information regarding this advisory, please call 518-297-3511, or email us at consulting@anderinger.com