House Passes Reichert Bill to Bring Tariff Relief to American Businesses

Feb 13, 2018 Issues: Economy and Jobs, Trade

Washington, DC - Today, Representative Dave Reichert (R-WA) led debate on the House floor on H.R. 4979, a bill to extend the Generalized System of Preferences (GSP) and to make technical changes to the competitive need limitations provisions of the program. The bill passed the House by a vote of 400-2.

“By renewing GSP and providing tariff relief, we are creating opportunities for American businesses to grow and re-invest here at home and to compete globally. At the same time, we are strengthening our partnerships with developing countries and ensuring that our trading partners meet the standards of the GSP program. This tariff relief and accountability help our workers, manufacturers, and businesses succeed at home and abroad,” said Chairman Reichert. “In my home state of Washington, GSP saved companies about $11 million in import duties in 2017 – up 30 percent from 2016. As just one example, TRInternational, a small but quickly growing veteran-owned chemical distributor in Seattle, relies on GSP to obtain certain chemical raw materials at globally competitive prices. Our last renewal of GSP in 2015 allowed TRI to hire more employees in my state and invest in equipment. Many of TRI’s customers are U.S. manufacturers, and TRI’s use of GSP to obtain raw materials at lower prices also makes these manufacturers more competitive. For TRI, and for other Washington companies like Rain City Music that use the GSP program, GSP provides significant opportunities to their employees, and reduces costs for American consumers.”

To watch Chairman Reichert speak on the House floor, please click here.