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Generalized System of Preferences (GSP)

The Generalized System of Preferences (GSP) is a trade preference program established by the Trade Act of 1974, which promoted economic development by eliminating duties on many products when they were imported from one of the 119  countries and territories designated as developing. The program expired in December 2020 and is pending renewal in Congress. Should Congress renew the program with a retroactive refund clause, CBP will refund duties for entries eligible for GSP. Under the GSP, goods that are entirely produced or manufactured in a beneficiary developing country may qualify for duty-free entry under GSP; all third-party materials must undergo a substantial transformation defined as at least 35% of the good’s value having been added in the beneficiary country.  The goods must also be “imported directly” from the GSP eligible country.

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EC Posts Evaluation of the EU's GSP Regime
May 27, 2010 by Barbara Chaves|Top News

The European Commission has posted a final report regarding the Mid-term evaluation of the European Union's Generalized System of Preferences. The aim of the report is to consider the extent to which the GSP regime corresponds to the needs of developing countries, and in that context, to put forward recommendations for possible ways forward. Executive summary is available here.

Topics:Generalized System of Preferences (GSP)
ITC Reports on Effects of Waiving CNL for Tires from Thailand under GSP
April 23, 2010 by Karen Marzullo|Other Agency Postings

The International Trade Commission has released the public version its report on the probable economic effect of waiving the competitive need limit for Thailand for radial motorcar tires under the Generalized System of Preferences.

Topics:Harmonized Tariff Schedule, U.S. International Trade Commission (ITC), Customs duty, Generalized System of Preferences (GSP), Forced Labor
ITC Reports on Possible Removal of Non-Down Sleeping Bags from GSP
April 21, 2010 by Marie Rapport|Other Agency Postings

The International Trade Commission has released the public version its report on the likely impact on U.S. industry, imports, and consumers of the removal of HTS subheading 9404.30.80 (sleeping bags, not containing 20% or more by weight of feathers and/or down, referred to as non-down sleeping bags) from duty-free status with respect to all GSP beneficiary countries.

Topics:Harmonized Tariff Schedule, U.S. Trade Representative (USTR), U.S. International Trade Commission (ITC), Customs duty, Generalized System of Preferences (GSP)