Statement by the Press Secretary on Key Trade Measures in H.R. 5986
The White House
Office of the Press Secretary
Today, the President signed into law H.R. 5986, which includes key measures to bolster domestic manufacturing and strengthen our economic ties with sub-Saharan Africa and Central America. This bill also contains provisions to renew authorities under the Burma Freedom and Democracy Act. Congress passed this legislation with overwhelming bipartisan support.
This bill addresses sub-Saharan Africa’s top trade priority with the United States by extending a key provision under the African Growth and Opportunity Act (AGOA) trade preference program until September 2015. This provision, which was set to expire in the fall, will continue to allow duty-free access to the U.S. market for certain AGOA apparel exports. AGOA continues to be critical to expanding and diversifying our trade and investment relationship with Africa.
This legislation also includes technical amendments to textile and apparel provisions under the Central America – Dominican Republic – United States Free Trade Agreement (CAFTA-DR). These technical changes will have real job-supporting economic benefits for thousands of American workers in our textile and apparel industry, and will help boost economic growth in these developing regions.
You can read the rest of this article at:: http://www.whitehouse.gov/the-press-office/2012/08/10/statement-press-secretary-key-trade-measures-hr-5986
Short URL: http://thepresidency.us/?p=19203
Posted by RobertButler
on Aug 10 2012. Filed under Barack Obama.
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