Rep. Smith: Expect GSP renewal bill in ‘next few weeks’

House Ways & Means Committee members are in the “final stages” of determining how long to reauthorize the Generalized System of Preferences, trade subcommittee Chair Adrian Smith (R-NE) said on Tuesday, adding that he plans to introduce renewal legislation in the coming weeks. GSP lapsed in 2020. The trade preference program, which provided duty-free treatment to thousands of products from developing countries, typically receives broad, bipartisan support in Congress, though it has lapsed more than once. Disagreements on reauthorization terms,...