House Ways and Means Chairman Jason Smith, R-Mo., led a bipartisan trip to Argentina, Paraguay and Chile, where they heard from Argentina and Paraguay how crucial the Generalized System of Preferences benefits program is to the trading relationship.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
The Center for Strategic and International Studies "Trade Guys" said that while there is some pressure on Congress to get the Generalized Systems of Preferences benefits program renewed, and restrict de minimis, competing pressures make it unlikely bills will become law this year.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
As CBP deploys measures to ensure de minimis compliance among importers, there are some big-picture items that the agency and Congress need to consider to enable scalability or prevent loopholes, according to Lenny Feldman, managing partner with Sandler Travis.
Senate Finance Committee Chairman Ron Wyden, D-Ore., formally unveiled a widely anticipated bipartisan bill Aug. 8 that would restrict foreign goods from eligibility for de minimis shipments.
A bill recently introduced by Sen. Maria Cantwell, D-Wash., would renew the Generalized System of Preferences benefitsprogram through the end of 2029, while adding new eligibility criteria related to the environment, women’s and human rights, rule of law and digital trade barriers, according to a final text of the bill provided by her office. The bill, S-4915, is the same as a proposal that was passed by the Senate in 2021 as an amendment to the U.S. Innovation and Competition Act of 2021 but never made it into law (see 2207190059).
Senate Finance Committee Chairman Ron Wyden, D-Ore., is sharing draft text with the trade of a bill that would remove goods subject to Section 301 tariffs from the de minimis entry lane, along with any categories deemed "import sensitive" in the Generalized System of Preferences benefits program legislation.
The top Republican on the Senate Finance Committee said that while Democrats' insistence that Trade Adjustment Assistance be paired with a renewal of the Generalized System of Preferences benefits program has stalled it so far, he's not convinced that the impasse means GSP has no chance in 2024.
An apparel factory owner and a trade policy professional from the apparel industry said it's critical to renew Haitian trade preferences this year, even though they don't expire for 14 months.