This week, House Ways and Means Trade Subcommittee Chair Adrian Smith introduced the Generalized System of Preferences (GSP) Reform Act, according to a News & Insights report by the RV Industry Association (RVIA).
On Wednesday, April 17, the Committee voted 25-17 to move the Act out of Committee and send it to the full House of Representatives for a vote. The Act proposes significant changes to the GSP program, a trade preference initiative designed to promote economic development, which the RV industry relies on to source lauan plywood from Indonesia duty-free. Flywoods
The Act makes several long overdue changes to the program, to ensure it remains an attractive option for both US manufacturing and beneficiary countries in the program.
Aside from the above, the Act also includes provisions targeting important areas such as labor rights, environmental protection, and intellectual property rights to ensure fair and sustainable trade practices, along with gradually increasing rules of origin requirements.
The full House vote has not been scheduled but we will continue to provide updates as the bill moves forward. For more detailed information on the GSP Reform Act, you can access the Committee’s full one-pager here. If you would like additional information or have any questions, please contact Samantha Rocci, Director of Federal Affairs, at srocci@rvia.org.
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