United States Trade Representative Katherine Tai said on Tuesday she supports the reauthorization or renewal of the US government’s Generalized System of Preference scheme with the Philippines.
United States Trade Representative Katherine Tai said on Tuesday she supports the reauthorization or renewal of the US government’s Generalized System of Preference scheme with the Philippines.
The GSP scheme allows duty-free entry to the US market of some 3,500 eligible products from beneficiary developing countries such as the Philippines.“I have expressed to my partners in Congress my support for the reauthorization of GSP,” Tai told members of the Philippine media in Makati City. “I just want to make it clear that it is the US Congress that reauthorizes GSP. I have expressed my support to the Congress for the Congress to reauthorize. But that action must be taken by the US Congress,” she added.As of 2020, the Philippines had utilized 74% of its US GSP privileges, valued at $1,557,286.918.
Philippine exports under the US GSP scheme include rubber tires, handbags, insulated electronic conductors, cane sugar, and non-alcoholic beverages, among others. —
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