Tuesday, June 16, 2009
SUSPEND BRAZIL GSP ACT
The proposed GSP suspension from Brazil is another bill that may have an impact on the bottom line of U.S. businesses.
A bill to suspend the application of Generalized System of Preferences for Brazil has been introduced and forwarded to the House Ways and Means Committee, until such time as Brazil complies with its obligations toward the United States under the Convention on the Civil Aspects of International Child Abduction.
Brazil is a primary beneficiary under the GSP programs. In 2008, Brazil received duty-free status under the GSP for United States imports totaling $2.75 billion.
The purpose of this act is to:
- Attain the immediate return of all children to the united States who are being held wrongfully in Brazil in contravention of the Hague Convention; and
- Impress upon the judiciary central authority, and law enforcement of Brazil the importance of abiding by their respective obligations pursuant to the Hague Convention.
To read more about this proposed bill please follow the link below:
Type in “HR 2702” in the search box and select the “Bill Number” radio button located directly below the search field.