The decision to move forward with the pending free trade agreements (FTAs) by the Administration and Congress could help resolve the impasse that has prevented consideration of the rest of the trade agenda, including renewal of the Generalized System of Preferences program.
The European Union issued the following trade-related releases on May 6, 2011:
The International Trade Commission has released the public version of its confidential report concerning the probable economic effect of granting waivers of the competitive need limit (CNL)1 for four country/tariff number combinations under the Generalized System of Preferences. These country/tariff number combinations are currently eligible for GSP duty-free treatment but are not receiving the benefits due to the expiration of GSP on December 31, 2010.
On April 28, 2011, U.S. Trade Representative Ron Kirk spoke before the Washington International Trade Association (WITA), where he gave an update on the Administration’s trade agenda, including the three pending free trade agreements, renewal of trade preference programs, and Trans-Pacific Partnership (TPP) negotiations.
On April 7, 2011, President Obama and Colombian President Santos will meet to approve a recently agreed-upon “Action Plan Related to Labor Rights” for workers in Colombia. According to the U.S. Trade Representative, agreement on the Action Plan clears the way for the Administration to begin discussions with Congress on the U.S.-Colombia Trade Promotion Agreement (TPA)1.
The Office of the U.S. Trade Representative has posted the April 5, 2011 statement by USTR Kirk before the House Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies. Kirk states that the President’s FY 2012 budget for USTR will have "significant bang for the buck" as USTR is negotiating high standard, job creating agreements, working to achieve the President’s goal of doubling exports by the end of 2014, and opening markets to U.S. products. He added that U.S. preference programs, the Generalized System of Preferences and the Andean Trade Preferences Act, merit renewal for as long as possible.
On March 30, 2011, the House Ways and Means Committee’s Trade Subcommittee held a hearing on the Panama free trade agreement. According to an Administration witness, Panama is close to completing work on its outstanding FTA issues. Once those issues are addressed, the Administration will be ready to prepare the Panama FTA for Congressional consideration.
On March 29, 2011, Representative Levin (D), Ranking Member on the House Ways and Means Committee, discussed the Congressional trade agenda in a speech at the Peterson Institute for International Economics.
On March 24, 2011, the European Parliament voted to extend the European Union's generalized tariff preferences for developing countries to December 31, 2013 (from January 1, 2012). The vote comes after the Parliament received a pledge from the European Commission to share information on the decision-making process surrounding the generalized system of preferences (GSP). The EU GSP will be revisited in negotiations later in 2011.
The European Union issued the following trade-related releases on March 24, 2011: