Generalized System of Preferences: Background and Renewal Debate

Generalized System of Preferences: Background and Renewal Debate. Congressional Research Service, Library of Congress. Vivian C. Jones. December 16, 2014

The U.S. Generalized System of Preferences (GSP) program provides non-reciprocal, duty-free tariff treatment to certain products imported from designated beneficiary developing countries (BDCs). The United States, the European Union, and other developed countries have
implemented similar programs since the 1970s. The U.S. program was first authorized in Title V of the Trade Act of 1974, and is subject to periodic renewal by Congress. The GSP program was most recently extended until July 31, 2013, in Section 1 of P.L. 112-40, and has not been
renewed. Imports under the GSP program in 2012 (last full year of GSP implementation) amounted to about $19.9 billion—about 6% of all imports from GSP countries, and about 1% of total U.S. imports.

[PDF format, 37 pages, 477.39 KB].

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s