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NFTC Joins Over 100 Associations and Companies in Calling on Congress to Renew GSP
Date: 2/6/2013
Written By: Jennifer Cummings, The Fratelli Group for NFTC, (202) 822-9491

Washington DC – The National Foreign Trade Council (NFTC) joined with 138 other leading American companies and associations calling on Congress to immediately renew the Generalized System of Preferences (GSP) program. The GSP program saves American importers hundreds of millions of dollars by eliminating tariffs on imports from approximately 130 developing countries. However, GSP is set to expire at the end of July and American companies would face $2 million per day in new taxes if Congress fails to renew GSP by August 1.

"GSP is a critically important program that helps U.S. companies of all sizes, but particularly small- and medium-sized businesses, access low-cost inputs they need to manufacture a wide range of exports," said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. "The program is central to U.S. export growth and helps support economic growth and American jobs. We urge Congress to renew GSP immediately."

The Coalition for GSP, of which the NFTC is a member, yesterday released its 2013 GSP Supporter List, which includes 124 companies ranging from small, family-owned businesses to some of the largest corporations in the world, such as General Electric and Home Depot. Fifteen business associations have also joined the GSP Supporter List.

The full list of organizations, which is expected to grow over time, is available here: http://renewgsptoday.com/2013-gsp-supporter-list.

The Coalition's Renew GSP Today website "Press Resources" page includes the latest facts and figures about the GSP program, Coalition press releases and links for media inquiries. For more information about the Coalition, contact Daniel Anthony from the Coalition for GSP at anthony@tradepartnership.com.

 
 
About the 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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