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Generalized System of Preferences (GSP)

The Generalized System of Preferences (GSP) is a trade preference program established by the Trade Act of 1974, which promoted economic development by eliminating duties on many products when they were imported from one of the 119  countries and territories designated as developing. The program expired in December 2020 and is pending renewal in Congress. Should Congress renew the program with a retroactive refund clause, CBP will refund duties for entries eligible for GSP. Under the GSP, goods that are entirely produced or manufactured in a beneficiary developing country may qualify for duty-free entry under GSP; all third-party materials must undergo a substantial transformation defined as at least 35% of the good’s value having been added in the beneficiary country.  The goods must also be “imported directly” from the GSP eligible country.

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US, Egypt Discussed Labor Reforms, IP Protection, Trade Facilitation in Dialogue
April 16, 2019 by Mara Lee|Middle East and Africa

The U.S.-Egypt Trade and Investment Council discussed the need for Egyptian labor reforms, and the U.S.'s desire that Egypt improve intellectual property protection, implement the World Trade Organization Trade Facilitation Agreement and that Egypt strengthen its border enforcement. The readout of the meeting, provided by the Office of the U.S. Trade Representative late April 12, said the two countries are looking to promote greater reciprocal market access for agricultural and industrial goods. "In this vein, the United States and Egypt are collaborating on the development of scientific, risk-based food safety practices consistent with international guidelines of the Codex Alimentarius Commission," USTR said. The U.S. praised Egypt for relaxing domestic ownership requirements for express shipping companies and Egypt's decision to accept U.S. motor vehicle safety standards. Between the Generalized System of Preferences and Qualifying Industrial Zones programs, about $1 billion of Egyptian exports to the U.S. enter duty free, USTR said.

Topics:U.S. Trade Representative (USTR)