USTR Reports on ATPA Ahead of Impending Expiration
Prior to its impending expiration next month, the U.S. Trade Representative released its seventh report to Congress about the Andean Trade Preference Act. Among the original four beneficiary countries -- Bolivia, Colombia, Ecuador and Peru -- Ecuador is the only remaining beneficiary and will undergo examination for eligibility. As of May 15, 2012, Colombia is no longer an eligible beneficiary country since the U.S.-Colombia Trade Promotion Agreement entered into force.
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Total U.S. imports from Colombia and Ecuador rose by 6.5 percent from $31.9 billion in 2011 to $34.0 billion in 2012, USTR said. U.S. imports specifically under the program rose from $4.4 billion in 2011 to $11.4 billion in 2012. But 2011 figures do not represent normal operation of the program due to the nine-month lapse and issues associated with retroactive applications for preferences that year.
Unless renewed by Congress as it was last reauthorized retroactively on Oct. 21, 2011, the ATPA will expire on July 31.
The full text of the seventh report to Congress can be found (here).