House votes overwhelmingly for GSP renewal
The House of Representatives voted 400-2 to renew the Generalized System of Preferences for three years and retroactively apply the tariff cuts to duties collected since it lapsed at the end of December. GSP renewal – in addition to the Miscellaneous Tariff Bill passed by the House last year – now awaits action in the Senate, where it is expected to pass with bipartisan support. The the timing of a vote remains unclear, however. This week, the American Apparel and...