Suspending Argentina’s Preferential Trade Status

Law360, New York (April 3, 2012, 1:49 PM EDT) -- On March 26, 2012, the United States took the unprecedented step of using trade measures to support the efforts of U.S. investors to recover under arbitral awards rendered against Argentina. President Obama issued a proclamation suspending Argentina’s designation as a beneficiary developing country under the U.S. Generalized System of Preferences because Argentina “has not acted in good faith in enforcing arbitral awards in favor of United States citizens” or U.S.-owned companies. The suspension will affect goods entered or withdrawn from a bonded customs warehouse on or...
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