WASHINGTON (BRAIN) — The Senate Finance Committee on Wednesday passed legislation to give the President trade promotion authority (TPA), legislation that the Outdoor Industry Association and the National Retail Federation support.
The committee also passed an amendment that would create a new category of product, "recreational performance outerwear," in order to reduce import duties on those products. The OIA also supports this move, which would reduce import duties on technical rain gear and similar products, likely including some cycling rain jackets and pants. Another amendment passed by the committee and supported by the OIA would shift some water-resistant shoes into the "athletic footwear" category, potentially reducing the duty on those shoes from 37.5 percent to 20 percent. It's not clear whether any cycling shoes would be affected.
The TPA legislation would give President Obama more authority to negotiate multilateral trade deals. It is opposed by many trade unions and some liberal Democrats who say it favors big business over labor. Republican support is mixed because some staunch conservatives, while they might support the concept, are reluctant to give President Obama any new powers.
The Finance Committee also passed an amendment that would make textile and leather travel goods and packs eligible for consideration to be added to the Generalized System of Preferences program. The OIA has also supported this move.
The full Senate is expected to vote on the TPA bill and other trade-related legislation in the coming days. The House Ways and Means Committee will consider the TPA bill Thursday.
