GSP for Most Countries Scheduled to Expire on December 31, 2008
The Generalized System of Preferences (GSP) program (i.e., A, A*, and A) for most beneficiary countries, i.e., other than those listed as African Growth and Opportunity Act (AGOA) beneficiary countries, will expire on December 31, 2008, unless a law extending it is enacted.
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Non-AGOA GSP beneficiary countries include Argentina, Brazil, Bangladesh, Cambodia, India, Pakistan, Philippines, etc.
(See ITT's Online Archives or 12/20/06 news, 06122005, for BP summary on the Tax Relief and Health Care Act of 2006'sextension of the GSP program for non-AGOA countries through December 31, 2008.)
GSP for AGOA Countries Does Not Expire in 2008
Both the GSP program (i.e., A, A*, and A) and the AGOA-GSP program (i.e., D) for AGOA beneficiary countries remains in effect through September 30, 2015.
(See ITT's Online Archives or 07/14/04 news, 04071405, for BP summary of the enactment of AGOA III, which extended the GSP and AGOA-GSP programs for AGOA countries through September 30, 2015 (from September 30, 2008).)
Congressional Plans for an Extension Not Yet Known
Congressional sources indicate that the Senate Finance Committee has not yet decided how it will approach the issue of extending the GSP program beyond December 31, 2008.
It is not yet known what action the House Ways and Means Committee will take regarding an extension of the GSP program.