This morning, the Ideas Lab website published a “perspectives” piece from us on the impacts of the GSP program called Time is Running Out to Renew Trade Program. We note that GSP was built around the idea that “opening markets to imports from low income countries plagued by poverty and a paucity of good employment opportunities spur the development of job-creating industries.”
Yet developing countries aren’t the only beneficiaries of GSP and the article uses the examples of Preferred Brands and Coca Cola to show the win-win nature of GSP for creating jobs at home and abroad. The article even highlights how GSP savings can help make technological breakthroughs commercially viable. For example, one material that currently can only be sourced from India has eliminated “the equivalent of nearly 140,000 metric tons of carbon dioxide emissions.” GSP expiration would increase the cost of that product.
We don’t want to give the whole thing away, but you can click here to read the rest of the article.