Executive Briefings

Shippers' Groups Urge Congress to Extend or Revive Trade Programs

Although Congress allowed both the Andean Trade Preference Act and Trade Adjustment Assistance to expire Saturday, shipper groups said they aren't giving up on their efforts to get U.S. lawmakers to extend these trade programs.

They also seek congressional action to restore funding to the Generalized System of Preferences, which lapsed on Dec. 31. GSP allows certain approved products from developing countries to enter the U.S. market duty-free.

"We are in absolute agreement that all three pending free-trade agreements are crucial to increasing U.S. economic growth and exports, and supporting American jobs, and we believe that all should be presented to Congress for approval as soon as possible this year," Bill Reinsch, National Foreign Trade Council president, said in a statement.

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Although Congress allowed both the Andean Trade Preference Act and Trade Adjustment Assistance to expire Saturday, shipper groups said they aren't giving up on their efforts to get U.S. lawmakers to extend these trade programs.

They also seek congressional action to restore funding to the Generalized System of Preferences, which lapsed on Dec. 31. GSP allows certain approved products from developing countries to enter the U.S. market duty-free.

"We are in absolute agreement that all three pending free-trade agreements are crucial to increasing U.S. economic growth and exports, and supporting American jobs, and we believe that all should be presented to Congress for approval as soon as possible this year," Bill Reinsch, National Foreign Trade Council president, said in a statement.

Read Full Article