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NFTC Calls House Vote to Renew GSP a “Momentum-Building Occasion,” Urges Action on FTAs, TAA & ATPA in Coming Weeks
Date: 9/7/2011
Written By: Jennifer Cummings, The Fratelli Group for NFTC, (202) 822-9491

Washington DC –  The National Foreign Trade Council (NFTC) tonight praised the U.S. House of Representatives for approving a retroactive renewal of the Generalized System of Preferences (GSP). The NFTC welcomed the vote as a first step toward Congressional action on the pending free trade agreements (FTAs), Trade Adjustment Assistance (TAA) and the Andean Trade Preference Act (ATPA). NFTC President Bill Reinsch and Vice President for Regional Trade Initiatives Chuck Dittrich released the following statement:

“We are very pleased with the outcome of tonight’s vote. GSP is an important program that will help boost the U.S. economy and support and create American jobs. As GSP expired nearly nine months ago, it’s critical that the Senate also works quickly to vote to renew the program,” said Reinsch. “We are especially encouraged to see that after only a couple days back in town, Congress is already taking action on trade. Tonight’s vote is a momentum-building occasion, and we hope Congress and the Administration seize the moment and continue working together to pass the pending FTAs, TAA and ATPA as soon as possible in the coming weeks.”

“As President Obama and many Congressional leaders have made clear, it is important to put in place a jobs agenda that will get Americans back to work. GSP is part of the jobs equation, as the program helps provide U.S. businesses, including small- and medium-sized enterprises, with the low-cost inputs they need to manufacture a wide variety of goods – helping to support U.S. competitiveness, export growth and American jobs,” said Dittrich. “Movement on GSP is great news, but this is only the beginning. Passing the free trade agreements with Colombia, Korea and Panama and renewing TAA and ATPA, should also be made a bipartisan priority. As a nation, we’ve allowed all to linger for far too long and we’re already paying the price as Canada and the European Union, among others, step in to take our competitive edge. We have a chance to win back market share, but action must be now. The economic implications of delay are far too serious for further delay.”
 
 
 


About NFTC
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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