If there is one area of bipartisan consensus in 2021 in Congress and the Administration, it is “getting tough on China.” Letting GSP expire does the opposite. Take it from a company that has paid $140,000 in tariffs in 2021 due to GSP expiration:
“I have had to switch suppliers, as I can no longer afford to do business with Thailand. Most of the new development went to China and a little to Viet Nam. I am still doing some re-orders with Thailand, but as I discontinue products there is nothing more in the pipeline for them.”
Every day that GSP remains expired is a win for producers in China. Congress should renew GSP immediately and update its rules to help American companies shift sourcing from China to GSP countries – not the other way around.
Note: the quote came from a new Coalition survey on expiration impacts. GSP importers can take the survey here.
