The 118th Congress is off to a slow start, after the 117th Congress was the first to let GSP remain lapsed in its entirety in the program’s nearly 50-year history. Not only is this the longest expiration in GSP’s history, the tariff costs associated with expiration will soon be at least twice as high as...
Continue readingIf you’ve bought any holiday lights either this year or last – or you’re a Member of Congress or the Administration that wants supply chains to move out of China – then you should hate GSP expiration too. Fun, old-fashioned family Christmas lights have faced up to $65 million in extra tariffs due to GSP...
Continue readingOn November 30, a broad range of American companies and associations sent a letter urging Congressional leaders to prioritize legislative action on the Generalized System of Preferences (GSP) program in the Lame Duck session. GSP expired on December 31, 2020. It soon could become the longest GSP lapse ever and the first time GSP remained...
Continue reading