Customs Forum - Customs, Export,Import, Logistics Forums

Go Back   Customs Forum - Customs, Export,Import, Logistics Forums > CUSTOMS AND INTERNATIONAL TRADE LEGISLATION > International Trade Legislation

International Trade Legislation Legislative issues about international trade and countries' foreign trade legislations are dissused here.

Reply
 
LinkBack Thread Tools Search this Thread
Old 05-02-2010, 00:33 AM   #1 (permalink)
Administrator
 
Join Date: Jun 2009
Posts: 481
Default What is Generalized System of Preferences (GSP)?


The Generalized System of Preferences (GSP) is developing a U.S. trade program to help developing countries improve their economic situation through exports. It provides duty-free (through December 31, 2010) for U.S. imports of a wide range of products, the otherwise applicable duty when imported from non-GSP-status countries. A GSP extension must be approved by Congress and signed into law by the President for duty-free imports to come after 2010 should be applied. Often APS authority lapsed before it is extended, in this case on imports, which normally take place at an escrow account until the renewal. If one part changes the GSP status, thereby losing entitlement to exemption from customs duties, the duties will not be refunded in the trust account held by the importer.
admin is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Spurl this Post!Reddit!
Reply With Quote
Reply

Bookmarks

Tags
generalized, gsp, preferences, system

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Certificate of origin under GSP scheme (JAPAN) admin JAPAN 0 12-04-2010 15:47 PM
Outline of Japan’s GSP (Generalized System of Preferences) admin JAPAN 0 12-04-2010 15:45 PM


1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66