Senators look to revive trade preference program with eye on China ...Middle East

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Members of Congress are looking to revive trade preferences for developing nations after the U.S.’s flagship program expired in 2020, warning that foreign adversaries like China have filled the void left behind by American businesses. The Generalized System of Preferences (GSP) applied to some 119 countries or territories, giving duty-free access to U.S. markets for manufacturers abroad, and sending cheaper goods to U.S. businesses and consumers. “If the United States is serious about moving away from Chinese manufactured goods and creating good-paying red, white, and blue jobs, renewing GSP is a good place to start,” Sen. Ron Wyden (D-Ore.), chairman of the Senate Committee on Finan

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Last updated : 06 June 2024 clock 07:05 PM

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Senators look to revive trade preference program with eye on China ...Middle East

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