The International Trade Commission announced on January 10, 2011 that it is seeking input for a newly initiated investigation concerning possible modifications to the Generalized System of Preferences. In particular, it is investigating the impact of granting waivers of the competitive need limit (CNL) for four country/tariff number combinations.
Broker Power is providing readers with some of the top ITT articles for December 20 - December 30, 2010, in case they were missed during the holiday season.
U.S. Customs and Border Protection has issued CSMS messages regarding the expiration of the Generalized System of Preferences program for most beneficiary countries and the extension of the Andean Trade Preferences Act/Andean Trade Promotion and Drug Eradication Act (ATPA/ATPDEA) for Colombia and Ecuador.
On December 29, 2010, the President signed into law H.R. 6517, the Omnibus Trade Act.
The Office of the U.S. Trade Representative has issued a notice announcing the competitive need limitation waiver petitions1 that have been accepted for further review as part of the 2010 Generalized System of Preferences Annual Review.
The International Trade Commission has posted the January 1, 2011 Harmonized Tariff Schedule to its Web site.
The amended version of H.R. 6517, the Omnibus Trade Act, which was passed by the House and Senate on December 22, 2010, is now available. This measure has been cleared for the White House, and the President is expected to sign it into law.
The Generalized System of Preferences program for most beneficiary countries (A, A+, and A*), i.e., other than those listed as African Growth and Opportunity Act beneficiary countries, will expire for goods entered or withdrawn from warehouse after midnight, December 31, 2010.1
The European Union issued the following trade-related releases on December 22, 2010:
On December 22, 2010, the Senate and House passed an amended version of H.R. 6517, the Omnibus Trade Act of 2010, which contains a six week extension of the Andean Trade Preferences Act/Andean Trade Promotion and Drug Eradication Act (ATPA/ATPDEA) and Trade Adjustment Assistance (TAA), but does not contain an extension of the Generalized System of Preferences (GSP) program.