Last week, USTR announced its intent to terminate GSP benefits for India and Turkey. These could take effect as soon as early May.
Announcements could come at any time on pending reviews for countries such as Thailand and Indonesia. In total, countries under review accounted for 63% of the $1+ billion in 2018 GSP savings.
That’s not all: USTR is conducting assessments of GSP countries in Europe and Western Hemisphere (e.g., Brazil, Argentina) that could lead to more “self-initiated” reviews soon.
In short, the Administration could take actions effectively gutting the GSP program before it comes up for congressional reauthorization in 2020.
We need to hear from importers – ASAP – about how GSP terminations could affect you. The survey also asks what actions you might be willing to take to support GSP so we can plan accordingly.
As always, no company-specific information will be published without explicit permission. Do not hesitate to email or call 202-347-1041 with any questions.