President Signs Trade Bill into Law: Extends GSP and ATPA/ATPDEA, Grants Authority for Vietnam PNTR, Amends AGOA Apparel, Adds Haiti Benefits, Extends/Adds Chapter 99 Nos, Etc.
On December 20, 2006, President Bush signed H.R. 6111, the Tax Relief and Health Care Act of 2006, into law. The Act includes trade provisions which:
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PNTR for Vietnam. authorize the President to grant Permanent Normal Trade Relations (PNTR) to Vietnam.
GSP. extend the Generalized System of Preferences for non-AGOA countries to December 31, 2008. GSP competitive need limit (CNL) waivers are also tightened.
ATPA/ATPDEA. extend the Andean Trade Preference Act, as amended by the Andean Trade Promotion and Drug Eradication Act, to June 30, 2007. In addition, a further conditional six-month extension is provided if the U.S. Congress and an ATPA/ATPDEA country's legislature both approve a free trade agreement (FTA) between the parties by June 30, 2007.
AGOA Apparel. amend a provision in the African Growth and Opportunity Act (AGOA) to extend the "third country" fabric provision for least developed AGOA countries.
Haiti Apparel, Etc. add a new provision to the Caribbean Basin Initiative (CBI), entitled the Haiti Hemispheric Opportunity through Partnership Encouragement Act (HOPE), which will allow duty-free entry for certain additional products of Haiti, including certain apparel and certain automotive wire harnesses.
HTS Chapter 99. add or extend duty-free treatment for various products (mostly chemicals) under various HTS Chapter 99 tariff numbers.
Etc.
(See ITT's Online Archives or 12/11/06 news, 06121105 for BP summary stating measure was passed by Congress. See ITT's Online Archives or 12/20/06 news, 06122005 for Part I of series of detailed BP summaries of H.R. 6111.)
White House press release (dated 12/20/06) available at http://www.whitehouse.gov/news/releases/2006/12/20061220-2.html
USTR press release (dated 12/20/06) available at http://www.ustr.gov/Document_Library/Press_Releases/2006/December/US_Trade_Representative_Schwab_Applauds_Trade_Bill_Signing.html