This afternoon, President Trump signed the omnibus spending bill that includes the GSP renewal language passed by the House in February. The bill:
- renews GSP through December 31, 2020;
- refunds tariffs paid from January 1 through the reinstatement date;
- changes the annual review announcement date from July 1 to November 1;
- updates some dates related to “competitive need limit” (CNL) reviews, and
- requires USTR to submit an annual report to the trade committees on country-eligibility criteria.
The House passed the bill yesterday afternoon and the Senate followed late last night/early this morning.
GSP reinstatement means that Administrative processes – such as the GSP Annual Review conducted by the Office of the U.S. Trade Representative – will restart as well. GSP program users that would like periodic updates on such issues should add their name to the free GSP Supporter List.