On Friday, the National Retail Federation sent a letter to every Member of Congress urging support for immediate Congressional consideration and passage. The letter stated that GSP is “critical to American employers and families that this important trade program is renewed in advance of its expiration.” Given GSP’s broad bipartisa...
Continue readingThe Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved South Carolina companies an estimated $16.7 million in 2011. South Carolina companies imported an...
Continue readingLast week, we asked companies to contact their Senators in support of the GSP/TAA bill. When all the votes were tallied, H.R. 2832 passed with the support of 70 Senators. The inclusion of TAA made the vote particularly difficult for Republicans, but at the end of the day 17 Republicans voted in favor of the...
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