Retailers Welcome Steps Forward on Key Trade Legislation
- By [ Blake Harden ]
- Washington, DC
- 04/17/2024
“Leading retailers welcome the introduction of these important bills, which take a needed step towards addressing two key trade priorities: (1) the renewal of the Generalized System of Preferences (GSP) program, which expired more than three years ago; and (2) concerns that the de minimis privilege is being abused.
“The Generalized System of Preferences Reform Act would provide for full retroactivity, renew the program through 2030, create a pathway for adding additional products to GSP, while also making important changes to the Competitive Need Limits (CNLs). Taken together, these provisions would demonstrate to beneficiary countries that the U.S. is committed to maintaining and deepening our GSP trading relationships, which are also vital to leading retailers’ supply chain diversification and resiliency plans.
“The End China’s De Minimis Abuse Act would provide Customs and Border Protection with tools to better enforce U.S. customs laws for low-value shipments, improve compliance obligations and ensure that foreign businesses cannot abuse the de minimis privilege and disadvantage American companies.
“Leading retailers are encouraged by the Committee’s actions and look forward to working with the Ways and Means Committee and the Congress on passing bills that provide for the long-term renewal of GSP and better enforcement of U.S. customs laws.”
###
RILA is a trade association of the world’s largest, most innovative, and recognizable retail companies and brands. RILA members include more than two hundred retailers, product manufacturers, and service suppliers, who together employ over 42 million Americans and account for $2.7 trillion in annual sales and hundreds of thousands of stores, manufacturing facilities, and distribution centers domestically and abroad.
RILA is a trade association of the world’s largest, most innovative, and recognizable retail companies and brands. RILA members include more than two hundred retailers, product manufacturers, and service suppliers, who together employ over 42 million Americans and account for $2.7 trillion in annual sales and hundreds of thousands of stores, manufacturing facilities, and distribution centers domestically and abroad.
Tags
-
China Trade Tariffs
-
Supporting Free Markets and Fostering Innovation
