A scan of recent headlines would tell any thoughtful importer that they shouldn’t put all their supply-chain eggs in one basket. With two near-peer world powers rapidly expanding their nuclear arsenals and an international landscape frayed by Russia’s invasion into Ukraine, securing alternate and new sources for critical imports may be more important than ever. Unfortunately, Congress and the Biden administration are falling short in their support of critical trade programs that would smooth the path for businesses trying to broaden their import supply chains.
For decades, free-trade policies like the Generalized System of Preferences (GSP) and Miscellaneous Tariff Bill (MTB) have kept costs low and increased U.S. businesses’ access to many products. This includes chemicals that can’t be sourced in the U.S. and others in short supply that are key ingredients to many industrial products that are essential to the health and safety of Americans, like medical devices, food safety, electronics, water treatment, and more.
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