Expiration of Generalized System of Preferences (GSP) - 12/31/2017

Generalized System of Preferences (GSP)

The Generalized System of Preferences (GSP) provides duty-free treatment to goods of designated beneficiary countries. The program was authorized by the Trade Act of 1974 to promote economic growth in the developing countries and was implemented on January 1, 1976.

The GSP periodically expires and must be renewed by Congress to remain in effect. The 2015 GSP reauthorization (H.R. 1295) expired on December 31, 2017. All previous GSP renewals that have taken effect after a lapse have included a retroactive clause providing refunds to importers of eligible goods imported during the lapse period.

You can read more about the official GSP notes regarding items such as Time of Entry, Special Procedures for GSP-eligible goods and Eligibility at: 

https://www.cbp.gov/trade/priority-issues/trade-agreements/special-trade-legislation/generalized-system-preferences

Note Regarding Programming

U.S. Customs & Border Protection (CBP) is developing programming that, in the event that GSP is renewed with a retroactive refund clause, will allow CBP to automate the duty refund process.

If you have additional questions regarding your customs and import of goods, contact our agency to understand any changes to your ongoing business.