​GSP Renewal Now Underway

On February 8, 2018, Rep. David Reichert (R-WA-8) and eight (8) other congressmen introduced H.R. 4979 into the House of Representatives to renew the Generalized System of Preferences ("GSP") for a period of three (3) years. H.R. 4979 was referred to the Ways and Means Committee and must now move through Congress and be signed by the President (assuming Congress approves H.R. 4979).  H.R. 4979 is a significant step toward renewal of the GSP program, which lapsed on December 31, 2017. The lapse has, at least for now, cost many importers significant money as imports that were previously duty-free have…

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Newsflash ~ June 2015

GSP Renewed Retroactively, Refund Claims Authorized On Thursday June 25th, Congress passed the Trade Preferences Extension Act of 2015 which not only extends AGOA and trade preferences for Haiti but also reauthorizes the Generalized System of Preferences (GSP) program through December 31, 2017 and retroactively to July 31, 2013. The TPA Extension Act of 2015 is now on its way to the President for his signature. Following is an overview of the high points regarding GSP:   Thirty days after the President signs the Act into law, GSP will be in effect again for articles entered or withdrawn for consumption.…

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