Andean trade program extension sent to Bush for signature

The U.S. Senate approved a 10-month extension to the Andean Trade Preference Act on Feb. 28 and rushed the legislation to President Bush's desk for signature.

The trade program was set to expire Feb. 29. U.S. businesses warned lawmakers that if the program was allowed to lapse, trade with Bolivia, Colombia, Ecuador and Peru could be disrupted. The ATPA provides duty-free access for certain imported goods from the four Andean countries, in exchange for their ongoing commitment to fight illegal drug production.

The House approved the ATPA extension on Feb. 27.

Source: American Shipper