The United States Clothing And Footwear Association (AAFA) Introduced GSP To Update Legislation.

The American clothing and Footwear Association (AAFA) recently praised the introduction of GSP to update legislation for the production diversification and promotion of trade (HR6307) legislation, which will enable us to import travel items such as bags, backpacks, and travel.

Bag, business case / computer bag, handbag, personal

The products meet the duty-free discount under the general preferences scheme (GSP).

On behalf of Ander Crenshaw (R-FL) and on behalf of Adrian Smith (R-NE), the United States House of Representatives introduced the GSP renewal law in August 2, 2012.

"Now entering the peak summer season and returning to the peak season of retail sales soon, it is the best time to extend the GSP benefits to tourism products," said Kevin Burke, President and chief executive officer of the AAFA.

At the same time, this law will support the American clothing and footwear industry to hire American workers, clothing and footwear companies will produce these products, reduce prices and promote sales.

"

According to the introduction, the abolition of the current ban does not allow most tourist commodities to enjoy preferential treatment of GSP tax rates. The GSP renewal law recognizes that tourism commodities are no longer an "import sensitive" industry.

According to GSP, developing countries, such as Kampuchea, Thailand and Philippines, can be exempt from exports to the US.

Under the GSP renewal law, China and Vietnam are not eligible to participate in GSP schemes.

While importing tourist commodities in the United States may enjoy GSP free tax concessions, the law continues to provide protection to the rest of the domestic manufacturers. 1) the GSP qualification does not include certain types of tourist commodities still produced in the United States, and 2) the United States government is required to conduct inspections and public comments before implementing the duty-free preferential treatment of tourist commodities.

The lowest cost of travel goods may be as high as 17.6%.

Today, 99% of the tourist commodities sold in the United States are imported, which means that for American consumers, these taxes are unavoidable and hidden cumulative taxes.

Background universal preference system (GSP) is a tariff concession program.

It allows certain conditions, such as labor rights and intellectual property rights, to be imported into the US market by the zero tariff of various products in developing countries.

The 1974 trade act "creating a GSP scheme" has always been very popular in the history of GSP. It has laid a long-term foundation for us to import relations with developing countries.

Due to the short term continuation effect, the GSP scheme has gone through some uncertainties and even failed several times.

The current plan is due to expire in July 2013 and has recently been updated by PL112-40, the law signed by President Obama in October 21, 2011.

In 2011, the United States imported more than 437 million yuan of tourist commodities from developing countries eligible for GSP.

Although GSP products account for only 5% of the total merchandise imports of the United States in 2011, imports of relatively low tourism commodity manufacturing products mean that increasing GSP tourism commodities will provide meaningful new exports for developing countries.

This is consistent with the spirit and purpose of legislation in 1974.