(Wednesday, September 20) It has been more than two years since two important tariff relief programs lapsed. The Generalized System of Preferences (GSP) and the Miscellaneous Tariff Bill (MTB) provide more than $100 million in tariff relief on sport and fitness products imported into the U.S. To qualify for tariff exemption under the GSP, a product must be made in one of more than 110 GSP-eligible countries with developing economies. Products currently made in GSP countries include backpacks, sports bags, golf bags/equipment, sports gloves, racquets, volleyballs, basketballs, and fitness consoles. MTB-eligible products must be vetted by the ITA to ensure they are not made in the U.S. SFIA had 82 MTB petitions approved by the ITA in the last vetting, for up to $41 million in tariff relief.
SFIA is pleased to report there is progress on both programs. The House Ways & Means Subcommittee held a hearing today on ways to improve GSP and included both GSP reauthorization and MTB renewal in the discussion. Please find the opening statement of Ways & Means Chairman Jason Smith here. SFIA will continue to press for the passage of legislation to provide tariff relief to lower the cost of getting our members’ products to market.
For more information or for questions, please contact Bill Sells, SVP, Government & Public Affairs, at [email protected].