ABSTRACT

Generalized System of Preferences (GSP): Overview and Issues for Congress [Updated October 28, 2019]   [open pdf - 1MB]

From the Summary: "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). [...] Currently, 120 developing countries and territories are GSP beneficiary developing countries (BDCs). The program provides duty-free entry into the United States for over 3,500 products (based on 8-digit U.S. Harmonized Tariff Schedule tariff lines) from BDCs, and duty-free status to an additional 1,500 products from 44 GSP beneficiaries additionally designated as least-developed beneficiary developing countries (LDBDCs). In 2018, products valued at about $23.8 billion (imports for consumption) entered the United States duty-free under the program, out of $238.4 billion worth of total imports from GSP-eligible countries. Total U.S. imports from all countries amounted to about $2.6 trillion in 2018. [...] 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 the U.S. program's effectiveness and stakeholders' views, and discusses possible options for Congress."

Report Number:
CRS Report for Congress, RL33663
Author:
Publisher:
Date:
2019-10-28
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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