The Office of the U.S. Trade Representative (USTR) today released for publication in the Federal Register a notice announcing that petitions to modify the Generalized System of Preferences (GSP) status of GSP beneficiary countries or products are being accepted through 16 April 2018.
The GSP program provides for the duty-free treatment of designated articles when imported from GSP beneficiary developing countries. The Consolidated Appropriations Act of 2018 (Pub. L. No. 115-141) reauthorized the GSP program, and made a number of modifications—including a change to the timeline for GSP review. Read TaxNewsFlash-Trade & Customs
The USTR is accepting petitions to modify the GSP status of certain countries for reasons including:
The USTR notice [PDF 224 KB] states that the USTR review will include separate hearings on product petitions and country eligibility reviews. Petitions for consideration in the 2017-2018 annual review of the GSP status must be received by the USTR by Monday, 16 April 2018. The USTR notice sets out the requirements for acceptable GSP petitions.
The USTR release also notes, among other items, that the GSP program’s petition process procedures have been revised for products eligible for a de minimis waiver and products eligible for redesignation.
For more information, contact a professional with KPMG’s Trade & Customs practice:
Douglas Zuvich | +1 (312) 665-1022 | firstname.lastname@example.org
Andrew Siciliano | +1 (631) 425-6057 | email@example.com
<p>© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.</p> <p>KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.</p>
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.