Turkey urges U.S to stay in trade target Turkey & United States’ Relationship In February 2019, The United States and Turkey had dialogues to increase trade between the two regions up to a bilateral target of $75 billion. According to the Hurriyet Daily News, “Both […]
GSP Products and Country Review Open for Comments Comments Open The Office of the U.S. Trade Representative will collect comments until April 18 @ midnight EST for its annual Generalized System of Preferences (GSP) product and country review. The agency states it will consider petitions […]
United States Will Terminate GSP Designation of India and Turkey The United States Trade Representative announced its intent to terminate Generalized System of Preferences (GSP) designation of India and Turkey because they no longer comply with the statutory eligibility criteria. Under the United States GSP […]
GSP Duty Free Treatment Modified on Certain Items On October 30, 2018, President Trump issued Presidential Proclamation 9813. The proclamation will implement changes to the Generalized System of Preferences (GSP). The modifications will go into effect with respect to articles entered for consumption, or withdrawn […]
Importers Should Update Info U.S. Customs and Border Protection is getting ready to set up automatic GSP refund processing for entries during the most recent lapse in the Generalized System of Preferences (GSP) program. The refund process is set for Mid-July, but before then, importers […]
Generalized System of Preferences (GSP) Reinstatement Information derived from U.S. Customs and Border Protection, Cargo Systems Messaging Service on April 26, 2018 This additional guidance supplements CSMS message 18-000296 issued on April 20, 2018. In fact, on March 23, 2018, the President signed into law, […]
The U.S. Generalized System of Preferences (GSP), a program designed to promote economic growth in the developing world, provides preferential duty-free treatment for over 3,500 products from a wide range of designated beneficiary countries (BDCs), including many least-developed beneficiary developing countries (LDBDCs). As of March 2017, […]
President Trump just passed a $1.3 trillion Omnibus Spending Bill that will keep the government funded through the end of September. The Omnibus Spending Bill includes the GSP Renewal. The Generalized System of Preferences is the largest and oldest U.S. trade preference program. It provides […]
The House Ways and Means Committee introduced a bill that would extend The Generalized System of Preferences (GSP Program) for three years and made its first move toward renewal on Feburary 8, 2018. When enacted, the bill will extend the program through December 31, […]
When will GSP Renewal pass? According to NCBFAA, the Trade Staff states that “GSP renewal is a priority but finding a vehicle for passage continues to be a challenge. The omnibus spending package is one option, but it has been delayed numerous times with passage […]
