United States GSP extended to 2020

On Friday, March 23, 2018, the President signed into law H.R. 1625, the “Consolidated Appropriations Act, 2018,” which extended Generalized System of Preference with retroactivity, from January 1, 2018, through December 31, 2020.

Shortly after April 22, 2018, Customs and Border Protection will begin refunding GSP duties without interest, to the importers during the laps period.

Some 5,000 tariff items are eligible for GSP benefits—approximately 3,500 of which are available to all GSP countries and approximately 1,500 of which are available solely to Least Developed Beneficiary Developing Countries.