Companies and Trade Groups Call for Immediate, Retroactive Renewal of GSP
Renewal of the Generalized System of Preferences is “low-hanging fruit” on the 2015 U.S. trade agenda and lawmakers should put the preference program, with a retroactive provision, back into law immediately, said more than 600 companies and trade organizations in…
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a Feb. 23 letter (here). “Please do not delay renewal any longer,” said the letter, addressed to congressional leaders of the House Ways and Means and Senate Finance committees. “The mounting costs and uncertainty surrounding when GSP might be renewed have had a chilling effect on our ability to grow and compete in the global marketplace.” Renewal will immediately boost U.S. economic growth and competitiveness, said the letter. GSP expired at the end of July 2013.