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
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