US SB742

Extends duty-free treatment for imports from Haiti under the Caribbean Basin Economic Recovery Act through September 30, 2035

Sets the "applicable percentage" for qualifying apparel articles at 60 percent or more, effective from December 20, 2017

Caps preferential treatment for apparel imports at 1.25 percent of aggregate square meter equivalents of all apparel articles imported into the United States in the most recent 12-month period

Directs the President to modify the Harmonized Tariff Schedule to restore eligibility for articles that qualified for preferential treatment on December 20, 2006 but lost eligibility due to subsequent schedule revisions

Requires the President to report to the Senate Finance Committee and House Ways and Means Committee at least 2 business days before any tariff schedule modifications take effect