Chairman of the Commerce, Manufacturing and Trade Subcommittee Rep. Lee Terry (R-Neb.) recently introduced legislation meant to ensure that a fair and level playing field for American manufacturing exports is provided by countries benefiting from U.S. trade programs.
The Playing Fair on Trade and Innovation Act seeks to stop the president from giving special access to countries blocking American exports by either failing to protect intellectual property rights or requiring that products be manufactured domestically to the U.S. market under the Generalized System of Preferences program.
The GSP was established in 1974 to provide tariff-free access to the U.S. market for up to 5,000 products from 127 developing countries.
“For nearly 40 years, U.S. trade preference programs worked to promote economic development in nations around the world,” Terry said. “But today, some countries are taking advantage of American generosity. They enjoy open access to our markets while products made in America face intellectual theft in their markets. We must demand our trademarks and patents going into their countries are protected the same way they are here in the U.S.”
Terry pointed to nations like India that show a continuing and growing pattern of unfair and discriminatory trade practice meant to benefit its own domestic companies at the expense of manufacturing and jobs in the United States.
“Trade preferences are not a gift,” Terry said. “Eligibility should be reviewed regularly and rigorously. Particularly at a time when unemployment in this country remains unacceptably high, we can’t afford to let America’s trade policy become a one-way street. This legislation provides a valuable tool to help level the playing field.”