Generalized System of Preferences: Background and Renewal Debate
Abstract
The Generalized System of Preferences (GSP) provides duty-free tariff treatment to certain products imported from designated developing countries. The United States, the European Union, and other developed countries implemented such programs in the 1970s in order to promote economic growth in developing countries by stimulating their exports. The U.S. program (as established by Title V of the Trade Act of 1974) was extended until December 31, 2008, in section 8002 of P.L. 109-432 for all GSP beneficiary countries not covered by the African Growth and Opportunity Acceleration Act of 2004 (P.L.108-274, extended GSP benefits for AGOA beneficiary countries through September 30, 2015).
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 25, 2008
- Accession Number
- ADA487520
Entities
People
- Vivian C. Jones
Organizations
- Library of Congress