Industry urges 1-year GSP extension

Industry urges 1-year GSP extension    The Coalition for GSP and nearly 100 other companies and business organizations sent a letter to the leaders of the House Ways and Means Committee and Senate Finance Committee urging them to support the one-year extension of the Generalized System of Preferences before the Dec. 31 deadline.
   GSP is a program that provides preferential access to the U.S. market for more than 5,000 products from about 130 developing countries.
   'The GSP program enjoys strong bipartisan support in Congress,” the industry letter said. “Given the continued uncertainty in the U.S. economy and the desire of Congress to pass legislation that benefits American families, workers, and companies, we urge you to make renewal of the GSP program a priority for early action.'
   'As Congress returns for the lame duck session, extending the GSP and other trade preference programs should be a bipartisan priority. The GSP is critical, as it provides needed economic incentives in developing countries for poverty alleviation while maintaining cost effective inputs for U.S. manufacturing,' said Chuck Dittrich, National Foreign Trade Council’s vice president for regional trade initiatives, in a statement.