Trade Subcommittee to Hold Preference Programs Hearing, Baucus Expects GSP/ATPA Extension This Year
The House Ways and Means Trade Subcommittee has announced that it will hold a hearing on the future of U.S. preference programs on November 17, 2009.
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The hearing is being held to evaluate the operation and impact of the U.S. preference programs to date, as well as opportunities for improvement moving forward.
(Over the years, Congress has maintained active oversight of preference programs, repeatedly revising and expanding them to better meet the goal of spurring economic growth and development. With two key preference programs nearing expiration at the end of December (see below), this hearing provides a timely opportunity to continue this critical oversight.)
Hearing to Evaluate and Identify Improvements for Preference Programs
The hearing will focus on evaluating the operation and impact of the U.S. preference programs to date, to understand the lessons learned from the circumstances where the preference programs have been successful, and to identify opportunities for improvement in areas where challenges remain.
Baucus Expects GSP, ATPA/ATPDEA to be Extended Before They Expire Dec 31
In a November 10, 2009 speech, Senate Finance Committee Chairman Baucus predicted that GSP and the Andean trade preference programs would be extended before they expire on December 31, 2009. He expects the extensions to be short-term, but longer than six months. Senate Finance Committee sources add that Baucus has been working with the Committee's Ranking Member Grassley on a preference program reform package, and wants the extensions to ensure that the current programs will not lapse during the reform effort.
(The Generalized System of Preferences 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.
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).)
(See ITT's Online Archives or 08/19/09 news, 09081915, for most recent BP summary on GSP's scheduled expiration December 31st.
See ITT's Online Archives or 10/09/09 news, 09100905, for BP summary of the trade's request that Congress make immediate GSP renewal a priority.)
Trade Subcommittee Advisory (TR-4, dated 11/10/09) available at http://waysandmeans.house.gov/hearings.asp?formmode=view&id=8123