Retroactively Renew Tariffs Refund Program, CTA and Many Others Tell Congress

CTA, General Electric and nearly 400 companies and trade groups signed a Thursday letter to congressional leadership asking for a quick Generalized System of Preferences program renewal. "The sooner it happens," the sooner "tariffs paid already are refunded," they said after Dec. 31 expiration of GSP, resulting in American employers now paying "over $2 million per day in new import taxes." The U.S. Trade Representative website says "GSP promotes economic development by eliminating duties on thousands of products when imported from one of 120 [of the world's poorest] designated beneficiary countries and territories."