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US House of Representatives Approves Trade Preferences Bill

The U.S. House of Representatives passed the non-controversial Trade Preferences Extension Act of 2015 Thursday, and the legislation, once adopted, is expected to immediately reduce costs for U.S. apparel and footwear businesses and consumers.

In a 397-32 vote, the House approved the trade preferences bill, which includes a 10-year renewal of the African Growth and Opportunity Act (AGOA), retroactive renewal and an update to the Generalized System of Preferences (GSP) program and an extension of the Haiti HELP/HOPE program.

Read more at Sourcing Journal.