e-book Generalized System of Preferences: Background and Renewal Debate

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Physical Description 38 pages. Who People and organizations associated with either the creation of this report or its content. Author Jones, Vivian C. Specialist in International Trade and Finance. Publisher Library of Congress.

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Congressional Research Service. Place of Publication: Washington D.

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Language English. Item Type Report. Identifier Unique identifying numbers for this report in the Digital Library or other systems. Collections This report is part of the following collection of related materials.

The Big Picture - US-India Preferential trade

About Browse this Collection. Digital Files 1 file. When Dates and time periods associated with this report. Creation Date August 17, Second, it provides a brief history, economic rationale, legal background, and comparison of GSP programs worldwide. Third, the report describes in more detail the U. Fourth, the report analyzes the U. Fifth, possible options for Congress are discussed.

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Title 11 of the Act extends GSP until December 31,, and also extended the program retroactively to the prior expiration date, July 3 1, The Act also provided the President with authority to designate certain cotton textiles as duty-free under GSP for least-developed countries; as well as to designate certain luggage and travel articles as eligible for GSP See Appendix A.

Regarding retroactive refunds of duties paid on GSP-eligible products imported during the expiration period between August 1, , and the effective date of the GSP extension, July 29, , U. Customs and Border Protection CBP has provided guidance on its website regarding the steps necessary to ensure that a refund is received. The bill also proposed to give the President authority to designate certain articles made of cotton yam from least-developed countries eligible for GSP status.

Congressional Research Service 1 Generalized System of Preferences: Background and Renewal Debate to authorize the President to designate certain luggage and travel articles eligible for duty-free status under the GSP.

[PDF] GSP Expiration and Declining Exports from Developing Countries - Semantic Scholar

In order to receive a refund, these importers must file a duty refund request with CBP by December 28, History, Rationale, and Comparison of GSP Programs The basic principle behind each GSP program worldwide is to provide developing countries with unilateral preferential market access to developed-country markets in order to spur economic growth in poorer countries. The preferential access is in the form of lower tariff rates or as in the U. It was believed that this, in turn, would help to free beneficiaries from heavy dependence on trade in primary products e. Trade , April 10, If you used flash media to store sensitive data, it is important to destroy the media.

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Generalized System Preferences

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