GSP for Most Countries & ATPA/ATPDEA Scheduled to Expire on December 31st
The Generalized System of Preferences (GSP) program (i.e., A, A*, and A) for most beneficiary countries, i.e., other than those listed as African Growth and Opportunity Act (AGOA) beneficiary countries, will expire on December 31, 2009, unless a law extending it is enacted.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
(For AGOA beneficiary countries, both the GSP program (i.e., A, A*, and A) and the AGOA-GSP program (i.e., D) remain in effect through September 30, 2015. See ITT's Online Archives or 07/14/04 news, 04071405, for BP summary of the enactment of AGOA III, which extended the GSP and AGOA-GSP programs for AGOA countries through September 30, 2015 (from September 30, 2008).)
In addition, the Andean Trade Preference Act/Andean Trade Promotion and Drug Eradication Act (ATPA/ATPDEA) is scheduled to expire on December 31, 2009 (for Colombia, Peru, and Ecuador).
House and Senate Continue Working on Trade Preference Reform Package, May Not be Ready by Dec 31st
Congressional sources state that the House Ways and Means and Senate Finance Committees continue to actively work on a trade preference reform package, which would include GSP (and the other trade preference programs, such as the ATPA/ATPDEA, the Caribbean Basin Trade Partnership Act (CBTPA), etc.).
The sources added that the committees have not yet decided how it will approach the issue of extending the GSP and ATPA/ATPDEA programs beyond December 31, 2009 if the reform package is not completed in time.
(Note that Bolivia recently lost its ATPA/ATPDEA benefits and Peru recently entered into a trade promotion agreement with the U.S. and remains eligible as an ATPA/ATPDEA beneficiary country.)
(See ITT's Online Archives or 10/20/08 news, 08102015, for BP summary of the extension of ATPA/ATPDEA through December 31, 2009, subject to certain country-specific exceptions for Bolivia and Ecuador.
See ITT's Online Archives or 07/02/09 news, 09070205, for BP summary of Bolivia losing its ATPA/ATPDEA benefits and Ecuador retaining its benefits. See ITT's Online Archives or 02/02/09 news, 09020210, for BP summary of Proclamation 8341, which implemented the U.S.-Peru TPA.
See ITT's Online Archives or 05/19/08 news, 08051905, for BP summary of the extension of CBTPA through September 30, 2010.
See ITT's Online Archives or 06/16/09 news, 09061605, for previous BP summary on the possible expiration of GSP.)