CGD in the News

Companies Press Hill on GSP Renewal As July 31 Expiration Date Approaches (Bloomberg)

June 21, 2013

Kim Elliott is quoted on GSP renewal.

From the article.

Hundreds of companies and associations are pressing for renewal of the generalized system of preferences (GSP) prior to the program's July 31 expiration, but legislative action is dependent on advanced agreement between the House and Senate, according to industry and congressional sources who spoke June 20 with BNA.

 The Coalition for GSP June 17 sent a letter with more than 230 signatories to the chairmen and ranking members of the Senate Finance and House Ways and Means committees urging renewal of the program that reduces tariffs on eligible imports from 127 developing countries, saving American companies nearly $750 million in 2012.

Kimberly Elliott, a senior fellow at the Center for Global Development, told BNA that GSP could be combined with the lapsed fast-track process for congressional approval of trade deals known as trade promotion authority (TPA) and renewal of the African Growth and Opportunity Act (AGOA), which is the U.S. preference program for sub-Saharan Africa that has an expiration date of Sept. 30, 2015.

“If trade promotion authority moves, as both Ambassador [Michael] Froman and Sen. [Max] Baucus have said they want to do this year, it would be logical to have a GSP extension attached to that bill and there would be a lot of support for moving early to extend AGOA as well,” Elliott said.

Read it here.

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