This morning, the Coalition for GSP put out a press release on yesterday’s expiration of the GSP program.
As noted by Executive Director Laura Baughman: “GSP’s expiration will be a financial blow for thousands of American companies that rely on the tariff savings to remain globally competitive. While expiration will be a costly, we are grateful for the bipartisan efforts of Congressional Leadership and the Senate Finance and House Ways and Means Committee to move legislation in July to avoid expiration and their commitment to move GSP renewal legislation later this year.”
Added Research Director Daniel Anthony: “For companies and workers that rely on GSP savings for their livelihood, the idea that such an important program will expire despite support from 99 Senators to pass the legislation is difficult to swallow. Yet it demonstrates the strong bipartisan support for GSP and we look forward to working with Congress to renew this critical program when it returns in September.”
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