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The U.S. government has launched a new initiative to ensure that developing countries benefiting from product-specific duty-free access to the U.S. market are in compliance with the
eligibility requirements of the Generalized System of Preferences (GSP). The U.S. government has launched a new initiative to ensure that developing countries benefiting from
product-specific duty-free access to the U.S. market are in compliance with the eligibility requirements of the Generalized System of Preferences (GSP). As part of this effort, the Office
of the U.S. Trade Representative (USTR) will press to conclude outstanding GSP cases and stand up a new interagency process to assess beneficiary country eligibility. “This interagency
process complements the current petition receipt and public input process for country practice reviews, which will remain unchanged,” USTR said. To qualify for GSP, a beneficiary country
must meet 15 eligibility criteria set by Congress, including respecting arbitral awards in favor of U.S. citizens or corporations, combating child labor, respecting internationally
recognized worker rights, providing adequate and effective intellectual property protection, and providing the United States with equitable and reasonable market access. If the assessment
of a beneficiary country raises concerns regarding its GSP compliance, the administration may “self-initiate” a full review of that country’s continued eligibility for GSP. USTR said
the first of these assessments will focus on GSP beneficiary countries in Asia. The Trump administration will assess GSP beneficiary countries in other parts of the world during the second
and third years of this process, the agency said. "Countries receiving U.S. trade benefits must meet the eligibility criteria established by Congress,” said U.S. Trade Representative
Robert Lighthizer in a statement. “By creating a more proactive process to assess beneficiary countries’ eligibility, the United States can ensure that countries that are not playing by the
rules do not receive U.S. trade preferences.” About 120 developing countries and territories currently participate in GSP. In 2016, the total value of imports that entered the United
States under the trade preference program was $18.9 billion. TO CONTINUE READING THIS ARTICLE... ALREADY HAVE AN ACCOUNT? SIGN IN CREATE A FREE ACCOUNT No payment required NEED HELP? CONTACT
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