U.S. House expected to vote on GSP program extension | KPMG | GLOBAL
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U.S. House passes GSP program extension

U.S. House passes GSP program extension

The U.S. House of Representatives this evening passed, by a vote of 400 to 2, a bill (H.R. 4979) that would extend the Generalized System of Preferences (GSP) program and make technical changes to the competitive need limitations (CNLs) provision of the program.

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H.R. 4979 [PDF 260 KB] would provide a three-year renewal of the GSP program (a trade preference program that provides tariff relief), and would extend certain customs user fees.

GSP program overview

Under the GSP program, certain products from some 120 beneficiary developing countries and territories can enter the United States duty-free. To qualify for GSP, a beneficiary country must meet eligibility criteria established by Congress—these requirements include respecting arbitral awards in favor of U.S. citizens or corporations, combating child labor, respecting internationally recognized worker rights, providing adequate and effective intellectual property protection, and providing the United States with equitable and reasonable market access.

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

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