Asia-South Pacific Trade Preferences Act

Asia-South Pacific Trade Preferences Act - Authorizes the President to designate an Asia or South Pacific country as a beneficiary Asia or South Pacific country eligible for preferential treatment under this Act if that country meets certain requirements under the African Growth and Opportunity Act, including a market-based economy and the rule of law, the protection of human rights and internationally-recognized worker rights, elimination of trade barriers to the United States, and non-engagement in activities that undermine U.S. national security or foreign policy interests or support acts of international terrorism. Requires an Asia or South Pacific country also to meet certain eligibility criteria for designation as a beneficiary developing country under the Trade Act of 1974.

Lists the following countries eligible for designation as a "Asia or South Pacific country": (1) Afghanistan, (2) Bangladesh, (3) Bhutan, (4) Cambodia, (5) Kiribati, (6) Lao People's Democratic Republic, (7) Maldives, (8) Nepal, (9) Samoa, (10) Solomon Islands, (11) Timor-Leste (East Timor), (12) Tuvalu, (13) Vanuatu, or (14) a successor political entity of such country.

Authorizes certain import-sensitive articles (watches, electronic articles, steel articles, footwear and certain other apparel, and glass products) imported directly from a beneficiary Asia or South Pacific country to enter the U.S. customs territory duty-free if: (1) the article is the growth, product, or manufacture of a beneficiary Asia or South Pacific country; (2) the President determines, after receiving advice from the U.S. International Trade Commission (USITC), that the article is not import-sensitive; and (3) the article meets certain rules of origin requirements.

Grants duty-free treatment of certain textile and apparel articles imported directly into the customs territory of the United States from a beneficiary Asia or South Pacific country.

Prescribes requirements for handloomed, handmade, folklore articles or ethnic printed fabrics.

Prescribes a special rule to extend such preferential treatment through December 31, 2019, for textile and apparel articles that are wholly assembled in one or more beneficiary or former beneficiary Asia or South Pacific countries, or both, regardless of the country or origin of the yarn or fabric used to make such articles.

Establishes limitations on such preferential treatment.

Terminates the extension of preferential treatment to a beneficiary Asia or South Pacific country after December 31, 2024.