The Senate approved legislation to extend the Caribbean Basin Trade Partnership Act until September 30, 2030, under the Caribbean Trade Basin Economic Recovery Act.
Eight countries currently qualify under the program, but Haiti has emerged as the biggest beneficiary because of the trade preferences as well as other U.S. programs designed to build the country's economy. Congress has yet to act on another expiring trade preference program, the Generalized System of Preferences (GSP) that expires December 31.
The program offers tariff breaks on 3,500 products imported from nearly 120 countries.