New Bill Helps Small Businesses Suffering Under Democrats’ Trade Moratorium

Renewing job-creating trade programs is vital as American companies have paid well over $450 million more because of Democrats’ inaction
June 22, 2021 — Blog    — Press Releases    — Roundtable    — Trade   

WASHINGTON, D.C. — Today, Ways and Means Republican Leader Rep. Kevin Brady (R-TX) and top Republican for the Trade Subcommittee Rep. Vern Buchanan (R-FL) introduced the bipartisan Trade Preferences and American Manufacturing Competitiveness Act to build upon the success of USMCA and renew trade programs to protect U.S. workers and small businesses.

This legislation improves and reauthorizes two programs, the Generalized System of Preferences (GSP) and the Miscellaneous Tariff Bill (MTB), while also extending the American Manufacturing Competitiveness Act (AMCA) to pave the way for two future cycles of the MTB.

Following the bill introduction, Rep. Brady said:

“We are helping America’s Main Street businesses and manufacturers by renewing job-creating programs that maintain relationships with developing countries.

“House Democrats’ ideological go-it-alone approach has already cost American businesses more than $450 million in duties at a time when they already face a severe worker shortage, higher production costs, and the prospect of crippling tax hikes.

“Given strong Senate support, let’s work together to build on the bipartisan agreements in this bill.”

Rep. Buchanan said:

“American workers and businesses are in a race against China’s manufacturing infrastructure. The Generalized System of Preferences and Miscellaneous Tariff Bill are two of the best tools we have to maintain our economy’s competitive edge and help us remain a global leader on trade. As our economy slowly recovers from the coronavirus pandemic, reauthorizing these valuable programs will put American workers and businesses first, encouraging growth and job creation.”

Ways and Means Republicans will hold a trade subcommittee meeting on Wednesday titled “With Over $450 Million Lost, Workers and Small Businesses Need Bipartisan Renewal of Trade Bills” to discuss how the expiration of these important programs has harmed U.S. workers and small businesses, and the bipartisan approach Congress should take to renew them.

CLICK HERE to read the full bill.

KEY TAKEAWAYS:

Democrats’ Delay is Hurting American Workers, Small Business, and Our Jobs Recovery: 

  • Democrats’ delay of renewing these two key trade programs that support high-paying jobs in every state has already cost American businesses over $450 million. Further delay will cost even more—including jobs to American workers and families.

READ: Rep. Buchanan: First Priority for Workers is Job-Creating Policies; TAA Reforms Needed

President Biden’s Trade Moratorium Is Compounding the Suffering:

  • The Biden Administration has put America on the sidelines through its moratorium on trade negotiations. Congress must lead on trade by acting quickly to renew GSP and MTB.

READ: Brady: President Biden’s Trade Agreement Moratorium Must Cease

House Republicans and Democrats Need to Take Action:

  • To protect American jobs, Ways and Means Republicans have introduced House legislation renewing these important programs, based on the successful bipartisan framework established in the Crapo-Wyden bill.

This Bill Includes Established Bipartisan Agreements: 

  • This bill includes established agreements between Republicans and Democrats that received strong bipartisan support in USMCA and the African Growth and Opportunity Act.

Renewal of These Programs Should Not Be Controversial:

  • The 2018 MTB passed the House by a unanimous recorded vote of 402-0 and the 2018 GSP renewal passed the House by a 400-2 margin, without a single House Democrat voting against either program.
  • The Senate’s Crapo-Wyden bill passed with 91 votes.

READ: Brady Statement on Strong Bipartisan Senate Support for MTB and GSP

 

SUBCOMMITTEE: Trade