On December 15, 2010, the House passed H.R. 6517, the Omnibus Trade Act of 2010, as amended, by voice vote. As introduced, H.R. 6517 contained provisions to extend the Generalized System of Preferences program and Andean Trade Preferences Act/Andean Trade Promotion and Drug Eradication Act (ATPA/ATPDEA). The measure, as introduced, also contained a second Miscellaneous Tariff Bill (MTB).
On December 13, 2010, Representative Levin (D), Chairman of the House Ways and Means Committee, introduced the Omnibus Trade Act of 2010 (H.R. 6517).
On December 7, 2010, Representative Brady (R), current Ranking Member of the House Ways and Means Trade Subcommittee (and likely incoming Subcommittee Chairman) addressed the Chamber of Commerce’s "North American Competitiveness and the Global Supply Chain” Summit, focusing on pending free trade agreements and expiring preference programs.
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, 2010, unless a law extending it is enacted.
In the November 23, 2010 edition of the Official Journal of the European Union, the following trade-related notices were posted:
The European Commission published its regulation amending the European Union's Generalized System of Preferences in the November 23, 2010 edition of the Official Journal of the European Union. The EC previously stated that the regulation would relax and simplify rules and procedures for developing countries wishing to access GSP preferences, among other changes. The new rules will apply effective January 1, 2011. (See ITT's Online Archives or 11/22/10 news, 10112205, for previouse BP summary.)
On November 18, 2010, 14 retail, textile, and apparel associations1 sent a letter to Congress urging it to renew the Andean Trade Preference Act/Andean Trade Promotion and Drug Eradication Act (ATPA/ATPDEA) as soon as possible during the lame duck session.
The European Commission has adopted a regulation revising the rules of origin for products imported under its Generalized System of Preferences regime. The changes relax and simply rules and procedures for developing countries wishing to access this European Union preferential trade arrangement. The new rules will apply effective January 1, 2011.
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, 2010, unless a law extending it is enacted.
The International Trade Commission has announced that it is seeking comments for a newly initiated investigation on possible modifications to the Generalized System of Preferences (GSP) by December 8, 2010.