Finanse publiczne · 4.06.1997

Procedures if the Generalized System of Preferences Program Expires

The Generalized System of Preferences (GSP) is a preferential trade program that allows eligible products of many developing countries to enter the United States duty-free. The GSP is currently scheduled to expire at midnight on May 31, 1997, unless its provisions are extended by Congress. This document provides notice to importers that claims for duty-free treatment under the GSP may not be made for merchandise entered or withdrawn from a warehouse on or after June 1, 1997, if the program is not extended before that date. The document also sets forth mechanisms to facilitate refunds, if the GSP is renewed retroactively.