US: Apparel and retail groups lobby for GSP renewal
The lapsed US Generalized System of Preferences (GSP) tax incentive programme should be renewed immediately, according to hundreds of US companies.
In all, some 463 businesses – from trade associations such as the American Apparel & Footwear Association (AAFA) and National Retail Federation (NRF) to major retailers and small operators – have written joint letters to members of the US Senate and House of Representatives.
They are calling for the GSP programme, which expired on 31 July last year, to be renewed immediately, claiming that in its absence they have paid nearly US$2m per day in higher taxes.
“We cannot afford to wait any longer,” they write.
“Most importantly, we use the GSP programme to lower costs and remain competitive, and therefore need Congress to pass a retroactive renewal bill immediately.”
The AAFA has also advocted for the inclusion of an update to the programme which would make US imports of travel goods eligible for duty benefits.
- US fashion firms share their sourcing strategies
- How apparel retailers should react to Brexit
- Cost biggest barrier to Bangladesh RMG remediation
- Britain votes for Brexit – what happens next?
- Lies and statistics – the sustainability version
- Bangladesh firm comes top in World Textile Awards
- Columbia rain jacket a milestone in sustainability
- Myanmar factories prepare for compliance training
- Ten key trends in apparel and footwear markets
- ILO decent work in global supply chains criticised
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis
- Clothing & Footwear Retailing in Indonesia– Market Summary & Forecasts
- Clothing & Footwear Retailing in China – Market Summary & Forecasts
- Nike Inc in Apparel and Footwear (World)