House Passes Omnibus Trade Act of 2010

December 16, 2010

On December 15, 2010 the House passed by voice vote the Omnibus Trade Act of 2010 (H.R. 6517). The bill is designed to extend trade adjustment assistance and certain trade preference programs, and to amend the United States Harmonized Tariff Schedule (HTS) to temporarily modify certain duty rates. The bill provides for an 18 month extension of the Generalized System of Preferences (GSP) and the Andean Trade Preferences Act/Andean Trade Promotion and Drug Eradication Act (ATPA/ATPDEA), as well as certain Trade Adjustment Assistance (TAA) provisions, which were scheduled to expire December 31, 2010. The bill also includes hundreds of duty suspension and reduction provisions. The Senate is expected to consider the measure in the near future.

For further information on the Omnibus Trade Act of 2010, continue to visit www.barnesrichardson.com or contact a Barnes/Richardson attorney.