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December 11, 2006
Very early Saturday morning, around 4:30 a.m., the Senate approved an omnibus trade and tax bill by a 79-9 margin. The House cleared the trade component of the package around 7:45 p.m. Friday night by a vote of 212-184. And so, on the last day (more or less) of the 109th Congress, a number of our trade priorities have been achieved.
All told, this is a remarkable bipartisan victory under tough circumstances The bill includes:
- renewal of GSP for two years (through the end of 2008) on the terms described at bottom as described by our colleagues in the GSP coalition (the changes relate to competitive needs limit waivers). While this is not a straight extension of GSP, it is as close to a straight extension as we might have hoped to achieve.
- renewal of the Andean trade preferences for all four countries for six months (Jan. – June 2007), with the possibility of an addition six months to serve as a bridge for those countries with which the U.S. Congress has approved free trade agreements but where implementation is pending.
- the HOPE bill for Haiti.
- permanent normal trade relations (MFN) for Vietnam.
- the Miscellaneous Tariff Bill
- and extension of third country fabric provisions for the Africa Growth and Opportunity Act.
Click HERE to download a summary of the bill and HERE to download the bill details
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