The Senate approved Dec. 22 a bill to extend extend for one year the Generalized System of Preferences and the Andean Trade Preference Act.
The bill, (H.R. 4284), was introduced earlier this month by House Ways and Means Committee Chairman Charles Rangel (D-NY) and approved by the House on Dec. 14. It extends both trade pacts subject to amendments by the Andean Trade Promotion and Drug Eradication Act.
The legislation extends the ATPA/ATPDEA benefits that currently apply to imports from Colombia, Ecuador and Peru. The bill also moves from April 30, 2011, to June 30, 2010, the deadline for the Obama administration to submit its customary biannual report to Congress on the operation of the ATPA/ATPDEA.
