Obama punishes Argentina, rewards South Sudan with trade program

In the same announcement, Obama said he would recognize the Republic of South Sudan as a country that can benefit from GSP.

Obama's announcement, which was read on the House floor shortly after 2 p.m., said the decision to remove Argentina from the program would take effect in 60 days, and that South Sudan would be added as a beneficiary country after 20 days.

Obama's proclamation included several other technical changes related to the implementation of various trade agreements, including the U.S.-Korea Free Trade Agreement and the the Central American/Dominican Republican agreement, and the Haiti Economic Lift Program act.