Following a September 22, 2020 approval by the House, the Senate recently voted to renew the Caribbean Basin Trade Partnership Act (CBTPA) through September 30, 2030.
The program was set to expire on September 30, 2020, and Congress approved a ten-year extension.
The legislation now requires the signature of the President to sign the bill into law.
The CBI was launched in 1983 through the Caribbean Basin Economic Recovery Act (CBERA) which was then implemented as policy on January 1, 1984. It was expanded in 2000 by the U.S.-Caribbean Basin Trade Partnership Act (CBTPA) and again by the Trade Act of 2002.
The program is intended to facilitate the development of Caribbean Basin economies by providing beneficiary countries with duty-free access to the U.S. market for most goods.
There are currently 17 CBERA beneficiary countries:
If you’d like additional information on how to take advantage of this or any free trade agreement, the John S. Connor Compliance team would be pleased to assist. Please contact us at email@example.com