Generalized System of Preferences: USTR Reviews Certain Products for Possible Exclusion, and Customs Announces Refund Procedures
23 July 2015International Trade Alert
The Office of the U.S. Trade Representative announced on July 6, 2015 that it will launch a limited review of the Generalized System of Preferences, the U.S. trade program that provides duty-free treatment for certain products from beneficiary developing countries. The USTR review will focus on products that exceeded the stipulated value or volume thresholds known as competitive needs limitations (CNL) in 2014. Products that exceeded the CNL in 2014 will be excluded from duty-free treatment beginning October 1, 2015, unless the president grants a waiver.