Two House Republicans introduced a Generalized System of Preferences update act May 22, which broadens the trade preference program to include imports of travel goods. The GSP Update for Production Diversification and Trade Enhancement Act was introduced by Reps. Ander Crenshaw, R-Fla., and Adrian Smith, R-Neb. The bill would remove current prohibitions that prevent most travel goods from being eligible for duty benefits under GSP, according to a statement from the American Apparel and Footwear Association supporting the bill (here). The bill still excludes from GSP eligibility certain types of travel goods still made in the U.S., and requires a complete government review and public comment before the U.S. Trade Representative approves any GSP benefits for travel goods, AAFA said. The bill also prohibits China and Vietnam from participating in GSP.
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International Trade Today is providing readers with some of the top stories for May 13-17 in case they were missed.
International Trade Today is providing readers with some of the top stories for May 6-10 in case they were missed.
The Generalized System of Preferences (GSP) program will expire in less than three months, and though industry observers are lobbying for its extension -- and say there is wide, bipartisan support for the decades-old program -- a lack of Capitol Hill urgency could put its timely renewal in jeopardy. A House Ways and Means source said the Committee is working on GSP renewal, though timing of when a potential bill will become public is still unknown.
The Generalized Systems of Preferences (GSP) and Andean trade preference programs (ATPA/ATPDEA) are set to expire July 31, CBP said in messages posted on the website. "CBP has no information as to whether or not these preference programs will be renewed, and if they are renewed, whether there will be a lapse period, or whether there will be a retroactive clause providing for a refund of claims made during such a period," it said. "To receive the most timely information, you should consult the trade press, your business contacts and the Federal Register preview site."
The unprecedented opportunities for U.S. businesses in Sub-Saharan Africa will only be realized if the federal government crafts a more coordinated export strategy, increases investment in the region and agrees to take on the risks associated in working in such a frontier economy, a group of experts told the House Foreign Affairs Africa Subcommittee May 7.
CBP is seeking comments by July 8, on the extension of an existing information collection, the African Growth and Opportunity Act (AGOA) Certificate of Origin. There are no changes to the information collected.
Two House Democratic leaders want President Obama to issue trade sanctions against Bangladesh, including possible suspension of Generalized System of Preferences benefits, in the wake of the country’s devastating garment factory collapse.
The International Trade Commission released April 29 the public version of its confidential report on the economic effects of designating five new products eligible for duty-free treatment under the Generalized System of Preferences, as well as providing a competitive need limitation waiver for calcium-silicon from Brazil. Because the report is confidential, the advice ITC is providing the U.S. Trade Representative is redacted. The confidential version of the report was submitted to the USTR April 8, the ITC said. Products being considered for addition to GSP duty-free eligibility in this 2012 review are classified in the following Harmonized Tariff Schedule subheadings: