Topic: Foreign Trade — Trade Agreements
Subject: Foreign trade and international finance
Date: 2008-09-29 00:00:00

Amends the Andean Trade Preference Act (ATPA) to prohibit the extension of duty-free treatment or other preferential treatment to: (1) Colombia or Peru after December 31, 2009; (2) Ecuador after June 30, 2009, except that such preferential treatment shall remain in effect through December 31, 2009, unless the President reports to specified congressional committees on or before June 30, 2009, that Ecuador does not satisfy certain beneficiary country designation requirements; and (3) Bolivia after June 30, 2009, except that such preferential treatment shall remain in effect through December 31, 2009, only if the President reports to specified congressional committees on or before June 30, 2009, that Bolivia satisfies certain beneficiary country designation requirements.(Sec. 1) Extends through FY2010 preferential treatment for apparel articles assembled in one or more beneficiary countries from regional fabrics or regional components, and specified other type apparel (brassieres).(Sec. 2) Amends the Dominican Republic-Central America-United States Free Trade Agreement Implementation Act to direct the Secretary of Commerce to establish a program to provide earned import allowance certificates to any producer or entity controlling production of eligible apparel articles in the Dominican Republic, based on specified elements.Declares that eligible apparel articles wholly assembled in the Dominican Republic and imported directly from the Dominican Republic shall enter the United States free of duty, without regard to the source of the fabric or yarns from which the articles are made, if such apparel articles are accompanied by an earned import allowance certificate reflecting the amount of credits equal to the total square meter equivalents of fabric in such apparel articles.Directs the United States International Trade Commission (ITC) to review and report annually to the appropriate congressional committees on the effectiveness of the earned import allowance program.(Sec. 3) Amends the African Growth and Opportunity Act to repeal certain special rules for fabrics and yarns in commercial quantities in Africa. Adds Mauritius as a lesser developed beneficiary sub-Saharan African country (LDC) for purposes of the application of preferential treatment to apparel articles wholly assembled, or knit-to-shape and wholly assembled, or both, in one or more LDCs, regardless of the country of origin of the fabric or the yarn used to make such articles, that are imported into the United States.Directs the ITC to review, identify, and report to the appropriate congressional committees and the Comptroller General on yarns, fabrics, and other textile and apparel inputs that through new or increased investment or other measures can be produced competitively in beneficiary sub-Saharan African countries.Directs the Comptroller General to report to the appropriate congressional committees on recommendations for changes to U.S. trade preference programs, including changes to rules of origin, to provide incentives to increase investment and other measures to improve the competitiveness of beneficiary sub-Saharan African countries in the production of yarns, fabrics, and other textile and apparel inputs. (Sec. 4) Amends the Trade Act of 1974 to extend the Generalized System of Preferences program through December 31, 2009.(Sec. 5) Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend certain customs fees for the processing of merchandise entered into the United States.(Sec. 6) Amends the Tax Increase Prevention and Reconciliation Act of 2005 to increase by 2% the amount in effect on the date of enactment of this Act of any corporate estimated tax installment otherwise due by a corporation with assets of not less than $1 billion in July, August, or September 2013.