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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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U.S. Producers Urge AGOA, GSP Eligibility Overhaul
November 19, 2013 by Brian Dabbs|Congress

Congressional lawmakers should overhaul African Growth and Opportunity Act (AGOA) and the General System of Preferences (GSP) eligibility criteria to punish countries that put up trade barriers against U.S. products, said a group of U.S. domestic producers in two joint letters to Congress. Numerous beneficiary countries are implementing “blatantly protectionist” barriers that are in “flagrant violation of international obligations,” such as World Trade Organization agreements.

Topics:Customs duty, Generalized System of Preferences (GSP), African Growth and Opportunity Act (AGOA), Reciprocal tariffs
GSP Expiration Losses Near $200 Million, Says Coalition
November 18, 2013 by Brian Dabbs|Congress

The July expiration of the Generalization System of Preferences (GSP) program has delivered an estimated $180-200 million in additional tariffs for U.S. importers, and there is no immediate, viable option to pass renewal legislation, said Dan Anthony, director of research and government relations at the Coalition for GSP, at a Nov. 15 National Foreign Trade Council (NFTC) roundtable discussion. Moreover, congressional dysfunction and budget concerns are threatening retroactivity inclusion in future legislation, causing significant consternation among Coalition for GSP importers, said Anthony.

Topics:Generalized System of Preferences (GSP)
Prolonged GSP Expiration Threatens Retroactivity, Product Eligibility, Says Sandler
November 8, 2013 by Brian Dabbs|Top News

The longer the Generalized System of Preferences (GSP) expiration continues, the less likely renewal legislation will include retroactivity provisions, said Marideth Sandler, CEO of Sandler Trade, during a Nov. 7 webinar on GSP. The webinar was co-sponsored by Sandler Trade, the Alliance of GSP Countries and the Coalition for GSP. Despite routine implementation of GSP duty retroactivity dating back to the program’s 1976 inception, political concerns render retroactivity uncertain, said Sandler.

Topics:Customs duty, Generalized System of Preferences (GSP), African Growth and Opportunity Act (AGOA)
MTB, GSP Retroactivity Likely Despite Budgetary Concerns, Say Industry Officials
October 16, 2013 by Brian Dabbs|Top News

The prospect for Miscellaneous Tariff Bill (MTB) and Generalized System of Preferences (GSP) renewal legislation to pass with retroactivity provisions remains high, according to industry executives and attorneys, despite the fiscal battles lawmakers continue to wage over federal appropriations and an administration-proposed debt ceiling hike. But political dysfunction is causing some anxiety for the the future of the largely non-controversial bills and retroactivity inclusions, they said. Typically, retroactive provisions allow the benefits of a law to extend beyond the law's expiration and through to when a new law is passed.

Topics:Customs duty, Generalized System of Preferences (GSP)
USTR Requests Comment for AGOA Annual Review
September 30, 2013 by Brian Dabbs|USTR

The Office of the U.S. Trade Representative (USTR) is requesting written public comment for the annual review of country eligibility for benefits associated with the Africa Growth and Opportunity Act (AGOA). The USTR African Growth and Opportunity Act Implementation Subcommittee of the Trade Policy Staff Committee will consider comments in developing recommendations for the AGOA’s 2014 calendar year. The comments should be submitted electronically via http://www.regulations.gov, docket number USTR-2013-0035, by Oct. 25.

Topics:African Growth and Opportunity Act (AGOA)