Generalized System of Preferences: Overview and Issues for Congress [December 14, 2017] [open pdf - 1008KB]
"The U.S. Generalized System of Preferences (GSP) program provides nonreciprocal, duty-free tariff treatment to certain products imported from designated beneficiary developing countries (BDCs). The United States, the European Union, and other developed countries have implemented similar programs since the 1970s. Congress first authorized the U.S. program in Title V of the Trade Act of 1974, and most recently extended it until December 31, 2017, in Title II of P.L. 114-27. Since the program expires at the end of this year, its renewal may be an issue for the 115th Congress. At the time of the last GSP renewal, enacted on June 29, 2015, the program had previously expired. Therefore, the program was also retroactively renewed for all GSP-eligible entries between July 31, 2013 (the previous expiration date), and the effective date of the current GSP renewal reauthorization. P.L. 114-27 also provided the President with authority to designate new products as eligible for GSP status, including some cotton products (for least-developed beneficiaries only) and certain luggage and travel goods. [...] This report examines, first, recent legislative developments, along with a brief history, economic rationale, and legal background leading to the establishment of the GSP. Second, the report describes U.S. GSP implementation. Third, the report briefly analyzes of the U.S. program's effectiveness and stakeholders' views, and discusses possible options for Congress."
CRS Report for Congress, RL33663
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html