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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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Miscellaneous International Trade Notices
May 18, 2006 |Top News

According to Washington Trade Daily, Senate Finance Committee Chairman Grassley has stated that he will not move legislation to reauthorize the Generalized System of Preferences (GSP) program - slated to expire on December 31, 2006 - because some beneficiary countries, particularly India and Brazil, are holding up the Doha Round of World Trade Organization talks. The article also states that Ways and Means Chairman Thomas last month suggested that GSP and all other U.S. trade preference programs be allowed to expire. (WTD, dated 05/17/06, www.washingtontradedaily.com )

Topics:Customs duty, World Trade Organization (WTO), Generalized System of Preferences (GSP)
Miscellaneous International Trade Notices
May 4, 2006 |Top News

The Office of the U.S. Trade Representative (USTR) has issued a notice announcing the closure of review for cases 012-CP-05, protection of worker Rights in Swaziland, and 015-CP-05, protection of intellectual property in Kazakhstan. According to USTR, the Subcommittee of the Trade Policy Staff Committee (TPSC) decided to close these cases following its 2005 Annual Review of petitions concerning the practices of certain beneficiary developing countries of the General System of Preferences (GSP) program. (FR Pub 05/01/06, available at http://a257.g.akamaitech.net/7/257/2422/01jan20061800/edocket.access.gpo.gov/2006/pdf/E6-6536.pdf)

Topics:World Trade Organization (WTO), Generalized System of Preferences (GSP)
Miscellaneous International Trade Notices
April 25, 2006 |Top News

The World Shipping Council (WSC) has sent a letter to the House Homeland Security Committee urging the Committee to defeat H.R. 4899, the "Sail Only if Scanned Act," if it is offered as an amendment when the Committee considers H.R. 4954, the SAFE Port Act. According to the WSC, H.R. 4899 would require every ocean shipping container to be "scanned" in a foreign port before the container is loaded on the vessel for shipment to the U.S. (WSC letter, dated 04/18/06, available at http://www.worldshipping.org/king_letter.pdf.)

Topics:U.S. International Trade Commission (ITC), Customs duty, Automated Commercial Environment (ACE), World Trade Organization (WTO), Generalized System of Preferences (GSP)