"Since 1974, Congress has created multiple trade preference programs designed to foster economic growth and development in less developed countries. These programs give temporary, non-reciprocal, duty-free U.S. market access to select exports of eligible countries. Congress conducts regular oversight of these programs, often revising and extending them. The 112th Congress may consider two major issues relating to trade preference programs: (1) the expiration of the Generalized System of Preferences (GSP) on December 31, 2010; and (2) continued extension of the Andean Trade Preference Act beyond February 12, 2010. The 112th Congress may also consider broader reform of the preference programs based on comprehensive reviews in hearings held in both the House and the Senate in the 111th Congress."
CRS Report for Congress, R41429