On December 31, 2010, the Generalized System of Preferences (GSP) program expired. For the first time in more than 8 years, US companies that imported eligible products from GSP countries had to pay tariffs on every shipment that entered the United States.
American companies will continue to pay these new costs – approximately $2 million per day – until Congress passes legislation renewing the GSP program.
Until that happens, this blog will highlight companies, products, and developing countries that have benefited from GSP – and that are negatively impacted by its expiration.
