What countries are on the GSP list?
The following 15 countries grant GSP preferences: Armenia, Australia, Belarus, Canada, the European Union, Iceland, Japan, Kazakhstan, New Zealand, Norway, the Russian Federation, Switzerland, Turkey, United Kingdom and the United States of America.
What is a GSP-eligible country?
The following independent countries are GSP-eligible beneficiary developing countries: Afghanistan. Congo (Brazzaville) Jamaica. Nepal. Tanzania.
Is GSP still in effect?
Legal authorization for the GSP program expired on December 31, 2020 (19 U.S.C. Section 2465). As a result, U.S. imports entering the United States that were eligible for duty-free treatment under GSP up to that date are now subject to regular, Normal Trade Relations (MFN) rates of duty.
Has GSP been reinstated for 2021?
Not successful in renewing the GSP program in 2020, as expected there is a push to renew GSP in Congress in 2021. The Senate passed a renewal provision within their China competitiveness package in early June of 2021.
How many countries are in GSP?
Established by the Trade Act of 1974, GSP promotes economic development by eliminating duties on thousands of products when imported from one of 119 designated beneficiary countries and territories. The GSP Guidebook provides basic information on the program.
Is the UK a GSP country?
The UK’s own Generalised Scheme of Preferences has been in place as of 1 January 2021. The scheme reduces and removes those tariffs reduced or removed by the EU GSP, which the UK GSP largely replicated, providing continuity of trade access for 70 developing countries.
What does GSP certificate mean?
The Graduate Safety Practitioner (GSP) is a designation available to college and university graduates from safety, health, and environmental (SH&E) degree programs which meet BCSP Qualified Academic Program (QAP) standards.
What is GSP in international business?
A framework under which developed countries give preferential tariff treatment to goods imported from certain developing countries. GSP is one element of a coordinated effort by industrial trading nations to bring developing countries more fully into international trading system.
Is the Philippines a GSP country?
In 2020, the Philippines ranked 5th globally among the beneficiary developing countries in terms of total claimed US GSP value, only behind Thailand, Indonesia, Brazil, and Cambodia.
Is GSP part of WTO?
The Enabling Clause is the WTO legal basis for the Generalized System of Preferences (GSP). Under the GSP, developed countries offer non-reciprocal preferential treatment (such as zero or low duties on imports) to products originating in developing countries.
Did GSP get renewed?
The Generalized System of Preferences (GSP) program about which I wrote in a prior post is currently expired (as of March 2021). This won’t be a first as the program has expired and been renewed in the past.