On January 1, 2011, the Generalized System of Preferences (GSP) of the United States expired. Millions of dollars in imports from developing countries that had been eligible for duty-free treatment under this program, which has been in effect since 1976, became dutiable on an MFN basis unless and until Congress approves a reauthorization. This was followed on February 13, 2011 with the expiration of the the Andean Trade Preferences Act (ATPA).
Both preferential trade programs will be renewed when President Obama signs into law two bills that Congress approved on October 12, 2011. One is H.R.2832, which retroactively extends duty-free treatment under the GSP through July 31, 2013; that same bill renews and expands the Trade Adjustment Assistance programs for workers, firms, and communities affted by import competition. The other is the implementing legislation for the U.S.-Colombia Free Trade Agreement (H.R.3078), Title V of which likewise extends duty-free treatment under the ATPA through July 31, 2013.