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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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President Designates Angola as an AGOA Beneficiary Country (AGOA Designation Terminated for Eritrea and Central African Republic)
January 7, 2004 |Top News

On December 30, 2003, President Bush issued Proclamation 7748 in order to change the status of the Republic of Angola (Angola), State of Eritrea (Eritrea), and the Central African Republic for purposes of the African Growth and Opportunity Act (AGOA), as well as to make a technical amendment to Proclamation 7616.

Topics:Customs duty, Generalized System of Preferences (GSP), African Growth and Opportunity Act (AGOA)