Outdoor Industry Association will host a one-hour webinar later this month on how companies can take advantage of the Trade Preferences Extension Act of 2015 to lower costs on outdoor apparel, footwear and equipment.
Signed into law by President Obama June 29, the legislation renews and expands the Generalized System of Preferences, or GSP program, which provides duty-free access to the U.S. market for over 100 developing countries for approved items.
The law also contains three provisions that will help outdoor companies lower costs on outdoor apparel, footwear and equipment:
- New tariff classifications or “breakouts” within the Harmonized Tariff Schedule (HTS) for certain woven recreational performance outerwear, a primary objective of the U.S. OUTDOOR Act.
- Certain performance footwear will now be classified in the HTS from “protective” to “athletic,” thus lowering the import tariff from 37.5 percent to 20 percent, a cost savings estimated at more than $4 million annually.
- The eligible product scope of the GSP program is now extended to certain travel goods including backpacks, sports and travel bags and other luggage.
If you or your company currently import or plan on importing travel goods from the Burma, Cambodia, Indonesia, Laos, Philippines, Thailand or other GSP eligible countries, OIA encourages you to learn how you can utilize the GSP program to lower your costs.
The webinar will be hosted by OIA Trade Policy Advisor Rich Harper and experts from Sorini Samet and Associates, which advises OIA on trade matters. Content will include a review of how companies can benefit from the legislation as well as how to petition U.S.T.R. to have travel goods included in the GSP program.
OIA asks interested parties to reserve 3 to 4 p.m. ET July 20 on their calendars pending further instructions on how to participate in the webinar. Please email questions regarding the webinar to Rich Harper.
