In the past, when the GSP program expired for non-AGOA countries and had been retroactively renewed, CBP had stated that ABI filers who continued to use the GSP SPIs (A or A+) during the expiration period would not need to take any further action to request a refund (as filing with a GSP SPI during the expired period constituted a valid claim for a refund).
The House recently passed a bill (H.R. 2832) which would retroactively renew GSP through July 31, 2013. This bill also contains a provision that would increase the MPF for formal entries to 0.3464% (from the current 0.21%) for the October 1, 2011 through June 30, 2014 period.
On September 7, 2011, the House of Representatives passed by voice vote H.R. 2832, a bill to retroactively renew GSP through July 31, 2013 and temporarily increase the MPF for formal entries by approximately 65%.
India's Minister of Commerce, Industry, and Textiles has stressed the need to avoid protectionist tendencies by developed economies. Speaking to a delegation of the U.S. Congress and the German Bundestag, the Minister expressed confidence that the U.S. Generalized System of Preferences (GSP) scheme, which expired in December 2010, may soon be revived with full and long term reauthorization. The Minister noted that the U.S.'s withdrawal of the GSP benefit for a number of products from India (e.g. jewelry) benefited major trading partners like China and France and not less developed countries.
The Renew GSP Today blog, run by the Coalition for GSP, a group of U.S. companies and associations that benefit from the Generalized System of Preferences program, is calling on GSP supporters to contact their Representatives in support of H.R. 2832, a bill that would extend GSP. H.R. 2832 is scheduled to be voted on by the House of Representatives on September 7, 2011 (evening vote expected).
On September 2, 2011, the following trade-related bills were introduced:
House Ways and Means Committee leaders1 introduced H.R. 2832 on September 2, 2011, in order to renew GSP and increase the merchandise processing fee for formal entries by 65%. The House could pass H.R. 2832 on September 7, as it is being considered under a suspension of the rules procedure.2
The Office of the U.S. Trade Representative is announcing a review of Cote d’Ivoire, Guinea, and Niger to determine if these countries should be redesignated as African Growth and Opportunity Act beneficiaries. Guinea and Niger lost their benefits in 2010, and Cote d’Ivoire in 2005.
On August 3, 2011, Senate Majority Leader Reid (D) and Minority Leader McConnell (R) announced that after lengthy discussions, they have agreed on the Senate process for moving forward with the pending free trade agreements with Korea, Colombia, and Panama. According to Senate Majority Leader Reid, the agreement provides for the consideration of the bipartisan compromise on the Trade Adjustment Assistance program, followed by consideration of the implementing bills for the pending FTAs, when the Senate returns from its August recess.
On July 28, 2011, the U.S. International Trade Commission released “The Year in Trade 2010,” its annual overview of the previous year's trade-related activities.