What is the Generalized System of Preferences (GSP)?
The Generalized System of Preferences (GSP) is a program providing for free rates of duty for merchandise from beneficiary developing independent countries and territories to encourage their economic growth. GSP is an element of a coordinated effort by the industrial trading nations to bring developing countries more fully into the international trading system. The U.S. GSP scheme is a system of non-reciprocal tariff preferences for the benefit of beneficiary developing countries. The GSP eligibility list includes a wide range of products classifiable under approximately 3,000 different subheadings in the Harmonized Tariff Schedule of the United States (HTS or HTSUS). Eligible merchandise will be entitled to duty-free treatment provided the following conditions are met: (1) the merchandise must be destined for the United States without contingency for diversion at the time of exportation from the beneficiary developing country; (2) the UNCTAD (United National Conference on Trade and De
The Generalized System of Preferences (GSP) is a program providing for free rates of duty for merchandise from beneficiary developing independent countries and territories to encourage their economic growth. GSP is on element of a coordinated effort by the industrial trading nations to bring developing countries more fully into the international trading system. The U.S. GSP scheme is a system of non-reciprocal tariff preferences for the benefit of beneficiary developing countries. The GSP eligibility list includes a wide range of products classifiable under approximately 3,000 different subheadings in the Harmonized Tariff Schedule of the United States (HTS or HTSUS). Eligible merchandise will be entitled to duty-free treatment provided the following conditions are met: (1) The merchandise must be destined for the United States without contingency for diversion at the time of exportation from the beneficiary developing country. (2) The UNCTAD (United National Conference on Trade and De
