S 652 110th Congress Senate

TRADE Act of 2007

Official title: A bill to extend certain trade preferences to certain least-developed countries, and for other purposes.

Introduced: October 2, 2007 See on congress.gov

Foreign Trade and International Finance AfghanistanAfrica (Sub-Saharan)American investmentsBangladesh

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BhutanCambodiaClothingCongressCongress and foreign policyCongressional reporting requirementsEast AsiaEast TimorGovernment Operations and PoliticsKiribatiLaosMaldivesNepalOceaniaPresident and foreign policy

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 15, 2007

Read twice and referred to the Committee on Finance.

Feb 15, 2007

Introduced in Senate

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Latest action February 15, 2007

Read twice and referred to the Committee on Finance.

Plain-English summary Congressional Research Service

Tariff Relief Assistance for Developing Economies Act of 2007 or TRADE Act of 2007 - Authorizes the President to designate Afghanistan, Bangladesh, Bhutan, Cambodia, Kiribati, Lao People's Democratic Republic, Maldives, Nepal, Samoa, Solomon Islands, Timor-Leste (East Timor), Tuvalu, Vanuatu, Yemen, and Sri Lanka or their successor political entities (TRADE Act of 2007 countries) as beneficiary TRADE Act of 2007 countries eligible to receive duty-free treatment for certain articles that are the growth, product, or manufacture of such countries, if after receiving the advice of the International Trade Commission (ITC) the President determines that such articles are not import-sensitive in the context of imports from such countries.

Conditions such designation upon eligibility requirements of the African Growth and Opportunity Act (AGOA) and the Trade Act of 1974.

Prescribes the rule of origin for the articles for the duty-free treatment.

Applies duty-free treatment, without any quantitative limitations, granted to textile and apparel articles under AGOA to articles imported directly into the U.S. customs territory from a beneficiary TRADE Act of 2007 country if their assembly meets specified U.S. origin requirements.

Grants AGOA preferential treatment for apparel articles assembled in one or more beneficiary TRADE Act of 2007 countries or such former countries, or both, from regional fabric from yarn originating either in the United States or one or more of such countries.

Establishes: (1) limitations on such preferential treatment; and (2) special rules for apparel articles wholly assembled in one or more beneficiary TRADE Act of 2007 countries or former beneficiary countries, or both, regardless of the country of origin of the yarn or fabric used to make such articles; and (3) applicable percentages of such benefits.

Bill text 1 version