Sunday, April 1

Presidential Memorandum: Argentina Trade Act of 1974

Review the full list of the Obama Administrations Memorandum here.

Don't forget to keep an eye on the full list of President Obama's Executive Orders.

Why is the Presidential Memorandum so important and why is the 1461 tracking them?
In January of 2009 the Presidential Memorandum was given the same power as the Executive Order by the Department of Justice in a statement by U.S. Assistant Attorney General Randolph D. Moss.
In effect, it suddenly became the equal to the Executive Order with the same power.

For Immediate Release: March 26, 2012

Presidential Memoranda - Trade Act of 1974 Argentina


In accordance with section 502(f)(2) of the Trade Act of 1974, as amended (the "1974 Act") (19 U.S.C. 2462(f)(2)), I am providing notification of my intent to suspend designation of Argentina as a beneficiary developing country under the Generalized System of Preferences (GSP) program. Section 502(b)(2)(E) of the 1974 Act (19 U.S.C. 2462(b)(2)(E)) provides that the President shall not designate any country a beneficiary developing country under the GSP if such country fails to act in good faith in enforcing arbitral awards in favor of U.S. owned companies. Section 502(d)(2) of the 1974 Act (19 U.S.C. 2462(d)(2)) provides that, after complying with the requirements of section 502(f)(2) of the 1974 Act (19 U.S.C. 2462(f)(2)), the President shall withdraw or suspend the designation of any country as a beneficiary developing country if, after such designation, the President determines that as the result of changed circumstances such country would be barred from designation as a beneficiary developing country under section 502(b)(2) of the 1974 Act.

Pursuant to section 502(d) of the 1974 Act, having considered the factors set forth in section 502(b)(2)(E), I have determined that it is appropriate to suspend Argentina's designation as a beneficiary country under the GSP program because it has not acted in good faith in enforcing arbitral awards in favor of U.S. owned companies.


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