In a toned-down signing ceremony, President Obama signed the GSP/MPF/TAA bill, as well as the Korea, Panama, and Colombia FTA implementing bills, on Friday, October 21, 2011 in the Oval Office. However, there was only still photographs taken, and he made no remarks in the Rose Garden as originally announced.
The President is scheduled to sign the bill that renews the Generalized System of Preferences program on October 21, 2011. This GSP provision, which takes effect 15 days after that date (approximately November 5), will renew the GSP program retroactively from January 1, 2011 through July 31, 2013. This notice describes the GSP renewal provisions in H.R. 2832 and the process that CBP is expected to follow for refund requests for entries made during the period GSP lapsed.
The White House press office has issued an announcement that the President will sign the GSP/MPF/TAA bill, as well as the Korea, Panama, and Colombia FTA implementing bills, on Friday, October 21, 2011.
During an October 14, 2011 international trade event, Deputy U.S. Trade Representative Marantis provided an update on progress in the Trans-Pacific Partnership negotiations.1 He discussed the negotiators’ short-term goals, outlined some of the more unique aspects of the agreement, mentioned the prospects of other countries joining the TPP, and discussed the Administration’s stance on Trade Promotion Authority.
On October 12, 2011, the House passed the Senate’s version of the GSP/MPF/TAA bill. The bill now goes to the President, who is expected to sign it into law. GSP's retroactive renewal through July 31, 2013 would take effect 15 days after the President signs the measure into law.
Broker Power is providing readers with some of the top stories for October 3-7, 2011 in case they were missed last week.
On October 11, 2011, the Senate Finance Committee favorably reported the implementing legislation for the free trade agreements with Korea, Colombia, and Panama. Both the House and Senate are scheduled to debate and vote on the FTA implementing bills on October 12, 2011. The goal continues to be passage of the FTA implementing bills before Korean President Lee addresses a joint session of Congress on October 13, 2011. Passage of these bills by both the House and Senate is expected.
The House is scheduled to vote on the Senate-passed GSP/MPF/TAA bill on Wednesday, October 12, 2011. Approval is expected and GSP's retroactive renewal through July 31, 2013 would take effect 15 days after the President signs the measure into law. Press reports indicate that the House and Senate will also vote on the three pending free trade agreements (Korea, Colombia, and Panama) on October 12, 2011; passage of these three measures is also expected.
According to the Coalition for GSP, on October 12, 2011 the House is expected to vote on the Senate-passed version of H.R. 2832, a bill to reinstate the GSP program retroactive to its expiration date, renew and revise Trade Adjustment Assistance, and make various MPF adjustments.
The Office of the U.S. Trade Representative announced that a U.S. delegation met recently with officials from Tunisia to relaunch discussions under the 2002 bilateral Trade and Investment Framework Agreement (TIFA). The delegations have established working groups to work on trade facilitation; trade and investment promotion; reduction of barriers to investment in key service sectors such as information and communications technology services; financial services; clean energy services; strengthening the protection of intellectual property rights; and promoting the rule of law through greater transparency.