House Trade Subcommittee Chair Hopes for Lame-Duck Action on GSP, MTB
The chairman of the House Ways and Means Subcommittee on Trade said Nov. 8 that he’s “hopeful that there [are] some things we can do” on trade when Congress returns to Washington this month for its lame-duck session.
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Rep. Adrian Smith, R-Neb., said his wish list includes a renewal of the Generalized System of Preferences benefits program, as well as passage of a Miscellaneous Tariff Bill.
“GSP would be one of those because we hear from businesses how important it is,” Smith told reporters. It “would be great for [MTB] to travel along as well.”
Republican and Democratic lawmakers have struggled so far to reach agreement on the two bills (see 2403260051 and 2409190045). “It's unfortunate because this is about American businesses and their supply chains and opportunities around the world,” Smith said.
Agricultural groups have pushed for GSP renewal, saying the duty-free treatment it provides to U.S. imports from developing countries helps open new markets for U.S. farm exports (see 2409190002). The MTB would temporarily reduce or suspend tariffs on products that are not available in the U.S.