Crenshaw, Blunt: International Trade Bill Would Open Additional Production Opportunities to U.S. Travel Goods Industry; Benefit Key International Partners

Press Release

Congressmen Ander Crenshaw (R-FL) and Senator Roy Blunt (R-MO) today (2/3) re-introduced the GSP Update for Production Diversification and Trade Enhancement Act (GSP UPDATE Act) -- international trade legislation that will help boost the economy by opening additional production markets to the U.S. travel good industry and providing new commercial opportunities to key international partners, including the Philippines, Indonesia, and Thailand.

Crenshaw, Chairman of the House Appropriations Subcommittee on Financial Services, stated: "In these tough economic times, Congress must work to promote economic growth and job creation. This bill accomplishes that goal for the travel goods industry in Florida, Missouri, Nebraska, and across the nation. Moreover, the GSP UPDATE Act is an opportunity to enhance a successful global development program for our partners and allies and in so doing strengthen our national security in key world regions."

"Upon passage, travel goods, such as the purses, briefcases, and backpacks, could be considered for approval as duty-free products by the U.S. Trade Representative under the Generalized System of Preferences (GSP) Program. The GSP program is a long-successful global development program for our critical partners and allies," Crenshaw continued. "That's a "win-win' for companies like Coach, in Jacksonville, Florida, as well as our national security strategy in countries around the globe. The bill would give the travel goods industry viable market alternatives to China which is not a GSP country. American businesses need tools to help them move forward, and I strongly encourage my House colleagues to support me in an effort to strengthen opportunities for this sector of our economy."

Blunt, Chairman of the Senate Rules Committee, stated: "Since the GSP program expired on July 31, 2013, GSP-eligible companies in Missouri and nationwide have paid more than $1 billion in higher taxes. I'm pleased to re-introduce this important bipartisan bill to help eliminate import taxes on certain U.S. products and travel goods, and I thank my colleagues in the House and Senate for their support as we work to give these companies more opportunities to grow and create jobs for middle-class Americans."

Congressman Adrian Smith (R-NE), a member of the House Ways and Means Committee and original co-sponsor of the legislation, who has long backed the measure with Crenshaw, "Modernizing trade opportunities for U.S. retailers boosts economic growth and supports American jobs in an increasingly globalized economy. This legislation is a step in the right direction to updating our trade policy to help level the playing field for non-import sensitive products."

Rick Helfenbein, Chairman, American Apparel & Footwear Association, stated, "Exclusions on travel goods - products including luggage, wallets, and handbags - were made forty years ago, and are truly outdated. It is refreshing to see the new Congress working to update the GSP initiative, which will now keep pace with the realities of today's international trade programs."

Angus McRae, EVP of Operations at Coach, stated: "Coach supports the efforts of Congressmen Crenshaw and Smith in making a positive change to U.S. Trade policy through the GSP UPDATE Act. This important initiative seeks to bring the GSP program in line with the modern realities of our industry. The GSP UPDATE Act will open new and much needed sourcing opportunities, promote our competitiveness and benefit our employees in Jacksonville and across the United States."

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