LIVE NOW: House Trade Subcommittee Hearing on GSP Reform to Safeguard US Supply Chains & Counter China
The House Ways and Means Committee Trade Subcommittee Holds Hearing on Reforming the Generalized System of Preferences (GSP) to Safeguard U.S. Supply Chains and Combat China
The House Ways and Means Committee Trade Subcommittee is set to hold a highly anticipated hearing on the topic of “Reforming the Generalized System of Preferences (GSP) to Safeguard U.S. Supply Chains and Combat China.” This crucial hearing will take place at 2:00 p.m. ET on September 20.
Witnesses:
- Ed Gresser: Vice President and Director for Trade and Global Markets, Progressive Policy Institute
- Randall Spronk: Pork Producer, Former President, National Pork Producers Council
- Fabian Garza: Vice President of Operations, Black Diamond Equipment
- Nigel Cory: Associate Director, Information Technology & Innovation Foundation
- Roy Houseman: Legislative Director, United Steel Workers
What role can technology and innovation play in enhancing supply chain security and mitigating the risks associated with China’s trade practices
The House Ways and Means Committee Trade Subcommittee has scheduled a highly anticipated hearing on the topic of “Reforming the Generalized System of Preferences (GSP) to Safeguard U.S. Supply Chains and Combat China.” This crucial hearing is scheduled to take place at 2:00 p.m. ET on September 20.
The Generalized System of Preferences (GSP) program is a crucial tool for promoting economic growth and development in developing countries. It allows for preferential duty-free treatment for thousands of products from designated beneficiary countries. By providing these preferences, the GSP program aims to support the economic development of these countries and enhance their integration into the global trading system.
However, recent developments have highlighted the need for reforming the GSP program to safeguard U.S. supply chains and address the challenges posed by China’s trade practices. The United States and many other countries have growing concerns over China’s unfair trade practices, including intellectual property theft, forced technology transfers, and subsidies to domestic industries. These practices not only undermine fair competition but also pose serious threats to global supply chains and economic security.
The witnesses at the hearing are respected experts and industry representatives who will provide their insights and recommendations on how to reform the GSP program to address these challenges effectively. Their expertise and diverse perspectives will contribute to a comprehensive understanding of the issues at hand and guide policymakers in crafting effective reforms.
Ed Gresser, Vice President and Director for Trade and Global Markets at the Progressive Policy Institute, brings a wealth of knowledge on trade policy and will provide valuable insights on the potential impacts and benefits of reforming the GSP program. Randall Spronk, a former President of the National Pork Producers Council and a pork producer, will offer his perspective on how the GSP program impacts the agricultural sector and the importance of safeguarding U.S. supply chains.
Fabian Garza, the Vice President of Operations at Black Diamond Equipment, will share his industry’s experiences and concerns regarding supply chain vulnerabilities and China’s trade practices. Nigel Cory, the Associate Director of the Information Technology and Innovation Foundation, will provide insights into the role of technology and innovation in supply chain security and the need to address emerging challenges.
Lastly, Roy Houseman, the Legislative Director of the United Steel Workers, will shed light on the impact of China’s trade practices on the U.S. steel industry and the importance of protecting domestic industries.
The outcomes of this hearing will be crucial in shaping the future direction of the GSP program and U.S. trade policy in general. It is expected that the hearing will result in recommendations and proposals for reforms that will safeguard U.S. supply chains, address China’s unfair trade practices, and ensure fair competition in global markets.
In conclusion, the House Ways and Means Committee Trade Subcommittee’s hearing on reforming the Generalized System of Preferences (GSP) to safeguard U.S. supply chains and combat China is a significant event that will provide valuable insights and recommendations from experts and industry representatives. The testimonies and discussions during the hearing will contribute to the ongoing efforts to strengthen U.S. trade policy and ensure a level playing field in global trade.
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