Tag Archives: GSP

ILN Today Post

So Congress allowed GSP to expire, what next?

On December 31, 2017 the Generalized System of Preferences (“GSP”) trade program expired after Congress failed to reauthorize the program. The GSP is a program utilized by U.S. importers that allows for duty-free entry of specified products from 120 designated beneficiary countries. The GSP is the U.S.’s largest trade preference program, and in 2016 alone, U.S. imports under the GSP reached $18.95 billion.[1] As will be described in more detail below, although the GSP is currently expired and importers must pay duties on the entries of GSP-eligible goods, U.S. Customs and Border Protection (“CBP”) has “strongly encouraged” importers to continue to flag GSP-eligible imports with the applicable Special Program Indicator (“SPI”).

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