Yesterday, the House Ways & Means Trade Subcommittee announced it will hold a hearing next Wednesday (9/20) on “Reforming the Generalized System of Preferences to Safeguard U.S. Supply Chains and Combat China.” There is significant congressional interest in renewing and updating GSP before the end of the year, especially as it relates to helping U.S. companies reduce reliance on China. In July, a bipartisan group of 66 House Members sent a letter urging GSP renewal with “smart changes to make GSP countries more viable alternatives to China” to Ways & Means Committee Chairman Jason Smith and Ranking Member Richard Neal.
With all eyes on ways to renew GSP and make it a better alternative to China, we hope GSP importers will travel to Washington, DC for our October 18 GSP lobby day. Already, it is on track to be bigger than a similar event in March where over 60 GSP users met with 90+ House and Senate offices. The Coalition for GSP will handle all meeting requests and scheduling. The event is free and open to non-GSP Coalition members. Companies that wish to attend should register here.
After 2.5+ long years and billions of dollars in extra tariffs paid, GSP users should not squander the opportunity to build momentum for GSP renewal. If you have any questions, please contact Dan Anthony at the Coalition for GSP here.