To amend the Trade Act of 1974 to exempt from the Generalized System of Preferences certain tire articles, and for other purposes.

12/19/2024, 9:07 AM

This bill makes tire articles ineligible to receive duty-free treatment under the Generalized System of Preferences (GSP) trade program. 

The GSP is a trade program that provides preferential duty-free treatment for certain products from designated beneficiary countries. Certain products are considered import-sensitive and are specifically prohibited from receiving GSP treatment. This bill specifically lists tire articles as import-sensitive and therefore ineligible to receive duty-free treatment under the GSP.

Bill 118 hr 5593, also known as the Tire Article Exemption Act, aims to amend the Trade Act of 1974 by exempting certain tire articles from the Generalized System of Preferences (GSP). The GSP is a program that allows for duty-free entry of certain goods from developing countries into the United States.

The bill specifically targets tire articles, which are currently eligible for GSP benefits. By exempting these tire articles from the GSP, the bill seeks to address concerns about unfair competition and market distortion in the tire industry. This exemption would mean that these tire articles would no longer receive duty-free treatment when imported into the US.

In addition to the exemption of tire articles from the GSP, the bill also includes provisions for other purposes related to trade policy. These additional purposes are not specified in the summary, but may include measures to promote fair trade practices, protect domestic industries, or address other trade-related issues. Overall, the Tire Article Exemption Act is a targeted piece of legislation that seeks to make changes to the GSP program in order to address specific concerns in the tire industry. The bill is currently under consideration in the US Congress and may undergo further revisions before potentially becoming law.
Congress
118
Number
HR - 5593
Introduced on
2023-09-20
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

9/20/2023
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

This bill makes tire articles ineligible to receive duty-free treatment under the Generalized System of Preferences (GSP) trade program. 

The GSP is a trade program that provides preferential duty-free treatment for certain products from designated beneficiary countries. Certain products are considered import-sensitive and are specifically prohibited from receiving GSP treatment. This bill specifically lists tire articles as import-sensitive and therefore ineligible to receive duty-free treatment under the GSP.

Bill 118 hr 5593, also known as the Tire Article Exemption Act, aims to amend the Trade Act of 1974 by exempting certain tire articles from the Generalized System of Preferences (GSP). The GSP is a program that allows for duty-free entry of certain goods from developing countries into the United States.

The bill specifically targets tire articles, which are currently eligible for GSP benefits. By exempting these tire articles from the GSP, the bill seeks to address concerns about unfair competition and market distortion in the tire industry. This exemption would mean that these tire articles would no longer receive duty-free treatment when imported into the US.

In addition to the exemption of tire articles from the GSP, the bill also includes provisions for other purposes related to trade policy. These additional purposes are not specified in the summary, but may include measures to promote fair trade practices, protect domestic industries, or address other trade-related issues. Overall, the Tire Article Exemption Act is a targeted piece of legislation that seeks to make changes to the GSP program in order to address specific concerns in the tire industry. The bill is currently under consideration in the US Congress and may undergo further revisions before potentially becoming law.
Alternative Names
Official Title as IntroducedTo amend the Trade Act of 1974 to exempt from the Generalized System of Preferences certain tire articles, and for other purposes.
Policy Areas
Foreign Trade and International Finance

Comments

Related

Committee:  Ways and Means

Recent Activity

Latest Summary8/15/2024

This bill makes tire articles ineligible to receive duty-free treatment under the Generalized System of Preferences (GSP) trade program. 

The GSP is a trade program that provides preferential duty-free treatment for certain products fro...

Latest Action12/17/2024
Referred to the Subcommittee on Trade.