Fifteenth Report to Congress on the Operation of the Caribbean Basin Economic Recovery Act
Security Theme
State Stability and Infrastructure
Keywords
Caribbean Basin Initiative, CBERA, CBTPA, Trade Act, HOPE Act, US Imports/Exports
Description
The U.S. trade preferences programs for the Caribbean and Central American region were launched in 1983 by the Caribbean Basin Economic Recovery Act (CBERA) and are known collectively as the Caribbean Basin Initiative (CBI). As of 2023, the CBI provides 17 countries and dependent territories with duty-free access to the U.S. market for most goods. CBI benefits were expanded through the enactment of the Caribbean Basin Trade Partnership Act (CBTPA) in 2000, relevant provisions in the Trade Act of 2002, the Haitian Hemispheric Opportunity through Partnership Encouragement Act of 2006 (HOPE Act), the HOPE II Act of 2008, the Haitian Economic Lift Program Act of 2010 (HELP Act), and the Trade Preferences Extension Act of 2015. Combined with economic reform and other actions taken by beneficiary countries1 to liberalize their trade regimes, the trade benefits of the CBI have both helped beneficiary countries and dependent territories in the region diversify their exports and have contributed to their economic growth.
Fifteenth Report to Congress on the Operation of the Caribbean Basin Economic Recovery Act
The U.S. trade preferences programs for the Caribbean and Central American region were launched in 1983 by the Caribbean Basin Economic Recovery Act (CBERA) and are known collectively as the Caribbean Basin Initiative (CBI). As of 2023, the CBI provides 17 countries and dependent territories with duty-free access to the U.S. market for most goods. CBI benefits were expanded through the enactment of the Caribbean Basin Trade Partnership Act (CBTPA) in 2000, relevant provisions in the Trade Act of 2002, the Haitian Hemispheric Opportunity through Partnership Encouragement Act of 2006 (HOPE Act), the HOPE II Act of 2008, the Haitian Economic Lift Program Act of 2010 (HELP Act), and the Trade Preferences Extension Act of 2015. Combined with economic reform and other actions taken by beneficiary countries1 to liberalize their trade regimes, the trade benefits of the CBI have both helped beneficiary countries and dependent territories in the region diversify their exports and have contributed to their economic growth.
