What Is the Generalized System of Preferences, and Should Congress Renew It?

February 18, 2014

The Generalized System of Preferences has become a way for mercantilist nations to hide behind egregious trade practices, including forcing local production as a criterion for market access, subsidizing exports, stealing intellectual property and favoring domestic companies over foreign ones.  As such Congress should not rubber stamp reauthorization; rather, they need to significantly reform the program.