ACD Calls for Renewal of GSP Trade Program
The Alliance for Chemical Distribution (ACD) has called on the administration to support the renewal of the Generalized System of Preferences (GSP) Trade Program, which expired on December 31, 2020. In a letter to President Donald J. Trump, ACD President and CEO Eric R. Byer emphasized the program’s importance to small businesses and the chemical distribution industry.
“Many small U.S. businesses, including ACD members, rely on the lower duty costs afforded by the GSP Program to remain competitive and reduce reliance on China,” Byer stated. “The lapse of the program has forced businesses to absorb higher costs, limiting investment in research, workforce expansion, and facility growth.”
Byer noted that between January 2021 and December 2023, U.S. companies paid at least $3.36 billion in additional tariffs, with the chemical distribution industry alone contributing an average of $242.3 million in annual duties. These increased costs have impacted the entire supply chain, with an estimated $317.4 million annual burden on the economy.
Calling the GSP a historically bipartisan program, ACD urged swift action to restore it and provide relief to American businesses.
For more information, visit Alliance for Chemical Distribution.
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
