HomeGAA in the MediaNewsBills to renew GSP program submitted in House, Senate

 

AMM
April 20,2015
By Daniel Fitzgerald

Bills to renew GSP program submitted in House, Senate

NEW YORK — Legislation to renew the federal government's Generalized System of Preferences (GSP) program has been introduced in the U.S. Senate and House of Representatives, potentially ending the longest lapse in the program's 40-year history.

Senate Finance Committee chairman Orrin Hatch (R., Utah) and ranking member Ron Wyden (D., Ore.), along with House Ways and Means Committee chairman Paul Ryan (R., Wis.) and ranking member Sander Levin (D., Mich.), have introduced legislation that would reauthorize the GSP through Dec. 31, 2017, and refund tariffs paid on eligible products during the expiration.

The GSP program, which expired July 31, 2013, extended duty-free treatment to thousands of products, including ferroalloys, imported from developing nations such as India and South Africa, including raw materials used in various metal production process (amm.com, Aug. 9, 2013).

"This legislation would provide great relief to American companies that depend on the GSP program," Coalition for GSP executive director Dan Anthony said in a statement. "By refunding tariffs paid and extending the program through 2017, Congress would give companies the ability to make long-term sourcing decisions—to the benefit of both suppliers in developing countries and their workers at home."

The coalition earlier this year called for the retroactive renewal of the GSP program (amm.com, Feb. 24).

The coalition's members include CN Wire Corp., Norwalk, Conn.; Georgian American Alloys Inc., Miami; Greenwich Metals Inc., Greenwich, Conn.; Spectro Alloys Corp., Rosemount, Minn.; ThyssenKrupp Steel North America Inc., Southfield, Mich.; and Traxys North America LLC, New York.