ACD Applauds Introduction of Recent Bi-Partisan Bill
The Alliance for Chemical Distribution (ACD), formerly the National Association of Chemical Distributors, President and CEO Eric R. Byer applauded the introduction of H.R. 7555, a bi-partisan bill introduced by Representative Debbie Wasserman Schultz (D-FL-25) to retroactively renew the Generalized System of Preferences (GSP) program and to extend it through 2029. The GSP program provides U.S. companies with tariff relief on many products from certain developing countries, saving American businesses hundreds of millions of dollars in tariffs each year while allowing the exporting countries to increase and diversify their trade.
“For far too long, American businesses have been denied the critical benefits GSP provides, hindering their ability to compete globally. Congress’ failure to renew GSP, one of the most effective trade preference programs, has resulted in billions of dollars in added tariffs for businesses already struggling with inflation and rising costs.