GSP benefits aren’t back into effect yet but there already are new threats to GSP importers: more than $1 billion of 2017 imports that will be eligible when GSP is reinstated could lose benefits as part of the 2017/2018 Annual Review. As announced in a recent Federal Register notice, companies must submit petitions to retain...
Continue readingCBP recently updated its GSP page to reflect renewal in the last month’s omnibus spending bill. According to CBP, GSP duty-free benefits will officially “restart” on April 22. Products that claimed GSP during the lapse will be eligible for automatic refunds. CBP will begin that process shortly after April 22. Duties will be refund...
Continue readingThis 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...
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