Companies, industry groups: Congress must reauthorize, update GSP

The Generalized System of Preferences program must be reauthorized and updated as part of the Bipartisan Innovation Act, more than 200 companies and industry groups said in a letter to Congress this week, citing more lenient participant eligibility criteria, carefully considered enforcement actions and updated Competitive Need Limitation rules as particular priorities. In the May 3 letter to House and Senate leaders, the signatories outlined four areas in which they believe Congress should focus its efforts on GSP as it...