On November 11, the Chamber sent Congress a letter urging lawmakers to support legislation extending the Generalized System of Preferences (GSP) and the Andean Trade Preference Act (ATPA) for Colombia and Peru, both of which will expire on December 31. The letter questioned Ecuador's eligibility for participation in the Andean preferences given the statute's criteria relating to the rule of law.
For more than three decades, GSP has provided duty-free treatment to selected goods imported from more than 130 developing countries. Approximately three-quarters of U.S. imports using GSP are raw materials, parts and components, or machinery and equipment used by U.S. companies to manufacture goods in the United States for domestic consumption or for export. A Chamber study found that moving GSP imports from the docks to the retail shelves supports tens of thousands of U.S. jobs.
Similarly, ATPA has a proven record generating trade, growth, and jobs. Created with the goal of fostering legitimate development alternatives to narco-trafficking in the Andean countries, ATPA has boosted trade and today sustains hundreds of thousands of jobs in Colombia and Peru. The letter stated: "If Congress elects to extend Ecuador's benefits under ATPA, the Chamber urges that at a minimum Congress include in the legislation a similar requirement for an evaluation specific to Ecuador on at least an annual basis."
For more than three decades, GSP has provided duty-free treatment to selected goods imported from more than 130 developing countries. Approximately three-quarters of U.S. imports using GSP are raw materials, parts and components, or machinery and equipment used by U.S. companies to manufacture goods in the United States for domestic consumption or for export. A Chamber study found that moving GSP imports from the docks to the retail shelves supports tens of thousands of U.S. jobs.
Similarly, ATPA has a proven record generating trade, growth, and jobs. Created with the goal of fostering legitimate development alternatives to narco-trafficking in the Andean countries, ATPA has boosted trade and today sustains hundreds of thousands of jobs in Colombia and Peru. The letter stated: "If Congress elects to extend Ecuador's benefits under ATPA, the Chamber urges that at a minimum Congress include in the legislation a similar requirement for an evaluation specific to Ecuador on at least an annual basis."
