On May 28, 2009, the U.S. Trade Representative (USTR) issued a notice in the Federal Register announcing it has set June 24 as the deadline for its 2009 Annual Generalized System of Preferences (GSP) Product and Country Practices Eligibility Review. During the Annual Review, USTR assesses petitions to modify the list of products and countries that receive duty-free treatment under the GSP.
By utilizing GSP, which provides duty-free treatment to a range of products from over 100 developing and lesser developed countries, U.S. importers can better control the cost of inputs.
Interested parties must submit petitions to modify the GSP products and country status by June 24, 2009. Petitions for products to continue receiving GSP treatment will be accepted starting June 24 and November 17, 2009.