In Hailing Caribbean Trade Renewal, Brady Urges Renewal of Generalized System of Preferences
The top Republican on the House Ways and Means Committee Kevin Brady (R-TX) released the following statement after the Senate passed an extension of the Caribbean Basin Trade Partnership Act:
"I applaud the Senate for joining the House in extending the Caribbean Basin Trade Partnership Act without lapse, which creates jobs, promotes American values abroad, and incentivizes beneficiary countries to comply with the economic rule of law, bolstering their development.
"A similar urgent priority is to renew the Generalized System of Preferences, which also benefits our economy and aids in development through establishing strong U.S. standards. Yesterday the China Task Force strongly recommended extending this valuable program to provide a counterweight to China throughout the world. I applaud Chairman Grassley for introducing legislation to extend the program, and I call on the House to act quickly to do so before the program expires at the end of the year."