On Monday, March 4th, President Trump announced that India and Turkey will no longer benefit from the United States’ Generalized System of Preferences (“GSP”) program. The GSP program, established by the Trade Act of 1974, is designed to promote economic development by eliminating duties on certain eligible products when imported from a beneficiary
On August 10th, the Office of the U.S. Trade Representative (“USTR”) initiated its annual review of a program that extends duty-free treatment to producers in 120 designated developing countries and examines whether certain countries are doing enough to maintain their GSP eligibility because of country practices. More specifically, the USTR announced its initiation of the 2017 Annual Generalized System of Preferences (“GSP”) Product and Country Practices Review in the August 11th Federal Register; see link here.
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