On Thursday, June 22, House Democrats proposed a bill named the
"American Worker and Trade Competitiveness Act", which
aims to reauthorize and update key trade programs aimed at
enhancing U.S. trade competitiveness and supporting workers.
Introduced by Earl Blumenauer (D-OR), ranking member of the Ways
& Means trade subcommittee, the bill focuses on the Generalized System of
Preferences (GSP), the Miscellaneous Tariff Bill (MTB) and Trade
Adjustment Assistance (TAA).
The GSP, which offers preferential trade benefits to developing
economies, expired in 2020, subjecting many developing countries to
higher duty rates. Blumenauer's bill proposes to retroactively
reauthorize the GSP through 2026, allowing refunds on duty paid
during the lapse period. The GSP provisions in the bill align with
requirements sought by House Democrats in the U.S.-Mexico-Canada
Agreement (USMCA), incorporating environmental, labor, human
rights, rule of law, and anti-corruption standards