Background – Page 9 – Renew GSP Today

How Did We Get Here???

Written on January 21, 2011 in Background

It’s been more than 8 years since GSP last expired. Why this year? GSP renewal frequently waits until (literally) the end of the legislative session, but Congress has been successful at striking a last minute deal to ensure continued benefits, as it did in 2006, 2008, and 2009. What happened this year? In summary, one...

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A New (More Expensive) Day

Written on January 20, 2011 in Background

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 millio...

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