USFIA joined 35 other associations to urge Congressional leadership to prioritize legislative action to renew GSP before the end of this year. The associations write:
Fortunately, much congressional work on GSP renewal legislation is already done. The GSP Reform Act (H.R.7986) incorporates virtually all of the bipartisan GSP provisions from the trade package approved 91-4 by the Senate during the 117th Congress. H.R. 7986 also modernizes the program with updates to review procedures (e.g. expedited review) and “competitive need limitations” (CNLs). For example, the CNL Update Act (H.R.6555) enjoys strong bipartisan support, as did similar bills in the 117th Congress.
GSP renewal is about more than dollars and cents: the United States’ credibility as a trading partner with developing countries is at stake, and countries such as China stand ready to fill the vacuum of abdicated U.S. leadership.
The letter also urges action on AGOA and Haiti HOPE-HELP before those programs expire.
Congress could show global leadership by extending the African Growth and Opportunity Act (AGOA) and the Haitian Hemispheric Opportunity through Partnership Encouragement Act and the Haiti Economic Lift Program Act (HOPE-HELP) along with retroactive GSP renewal. Both programs are scheduled to expire on September 30, 2025 and have strong, bipartisan support. Yet as GSP users and qualifying countries know all too well, bipartisan support may not be enough to avoid a painful lapse in the programs.