As GSP expiration date looms, industry pushes for renewal

A group of American companies and trade associations plans to send congressional leaders a letter next week urging “immediate passage” of the Generalized System of Preferences, ideally in early December. GSP, which is set to expire on Dec. 31, allows for duty-free entry into the U.S. for 3,500 products from more than 100 beneficiary countries. “GSP supports American manufacturing by reducing costs of imported inputs, machinery and equipment, and helps American families make ends meet by lowering the costs of...