House and Senate Pass Vietnam PNTR Bill That Also Extends GSP, ATPA/ATPDEA, Amends AGOA Apparel, Adds New Haiti Benefits
According to a press release issued by the U.S. Trade Representative, on December 8, 2006, the House and Senate passed key trade legislation that (partial list):
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PNTR for Vietnam. authorizes the President to grant Permanent Normal Trade Relations (PNTR) to Vietnam.
GSP. extends the Generalized System of Preferences for non-AGOA countries. GSP for non-AGOA countries would otherwise have expired on December 31, 2006. Press reports indicate that GSP for these countries has been extended for two years.
ATPA/ATPDEA. extends the Andean Trade Preference Act, as amended by the Andean Trade Promotion and Drug Eradication Act, which would have otherwise expired on December 31, 2006. Press reports state that the ATPA/ATPDEA was extended for six months, followed by an additional six months for any country in the process of completing a free trade agreement with the U.S.
AGOA Apparel. amends a provision in the African Growth and Opportunity Act (AGOA) related to apparel made in beneficiary sub-Saharan African countries. Press reports indicate that the measure extends until 2012 the "third country" fabric provision for least developed AGOA countries.
Haiti Apparel, Etc. adds a new provision to the Caribbean Basin Initiative (CBI), entitled the Haiti Hemispheric Opportunity through Partnership Encouragement Act (HOPE), which would allow duty-free entry for certain additional products of Haiti, including certain apparel (e.g., if made from U.S. or Haitian fabric, or if at least 50% of the value of inputs and/or costs of processing are from any combination of U.S. FTA and regional preference program partner countries, and for three years a certain quantity of woven apparel made from "third country" fabric) and certain automotive wire harnesses.
The President is expected to sign this legislation into law. See future issues of ITT for complete details of this 2006 trade legislation.
USTR press release (dated 12/08/06) available at http://www.ustr.gov/Document_Library/Press_Releases/2006/December/US_Trade_Representative_Schwab_Welcomes_Bipartisan_Senate_Vote_Approving_Key_Trade_Legislation.html