Caribbean Basin Economic Recovery Act

[AI summary unavailable — showing source text] Caribbean Basin Economic Recovery Act - Title I: Duty-Free Treatment - Authorizes the President to proclaim duty-free treatment for all eligible articles from Caribbean countries the President designates as beneficiary countries. Prohibits the President from terminating a country's beneficiary designation unless both Houses of Congress are notified 60 days before the termination. Requires the President to consider only specified countries and territories as beneficiary countries. Prohibits the President from designating as a beneficiary country any country that: (1) is a Communist country; (2) has nationalized or seized control, or effectively nationalized or seized control, of U.S. property, unless the President determines that a good faith effort is being made to compensate for such seizure; (3) fails to act in good faith in recognizing as binding or in enforcing arbitral awards in favor of U.S. citizens or corporations; or (4) grants preferential treatment to the products of a developed country other than the United States which may have a significant adverse effect on U.S. commerce, unless the President reports to Congress that certain assurances have been made. Permits the Pre…