VIDEO: Smith Supports his Trade Preferences Provision on House Floor

Congressman Adrian Smith (R-NE) spoke on the floor of the House of Representatives today in support of H.R. 1295, the Trade Preferences Extension Act. This package includes the GSP UPDATE Act (H.R. 681), a provision related to travel goods for which Smith served as the lead sponsor on the Ways and Means Committee.

Remarks as prepared:

Thank you, Mr. Chairman, for the time and for working to bring this package to the floor.

This bill includes a number of critical reauthorizations, including AGOA, the Generalized System of Preferences, and trade with Haiti. It is an important first step as we address trade today and tomorrow.

I also want to thank the Chairman for working with me and a number of other members to ensure the inclusion of provisions in this bill to modernize the treatment of travel goods, performance outerwear, and footwear.

The GSP Update Act, included in this bill, would allow to the International Trade Commission to consider whether travel goods such as suitcases and backpacks are import sensitive. If, and only if, the ITC determines they are not, they would become eligible for duty-free treatment under the generalized system of preferences.

Such a determination would be constructive for us and our trade partners.

This would mean increasing stability and economic growth in the developing world.

It would also mean greater opportunities for retailers and consumers in the U.S. as we expand the availability of products.

Again, I thank the Chairman for this provision’s inclusion. I urge passage, and I yield back the balance of my time.