GENERALIZED SYSTEM OF PREFERENCES & ATPDEA TRADE PROGRAMS EXTENDED
The following preferential trade programs have been extended.
Generalized System of Preferences (GSP)
The GSP has been extended until December 31, 2009 for all beneficiary countries. The GSP provides preferential duty rates on more than 4,650 products from 131 designated beneficiary countries and territories.
Andean Trade Promotion and Drug Eradication Act (ATPDEA)
The ATPDEA, scheduled to expire December 31, 2009, has been extended for all beneficiary countries.
The following adjustments were made to GSP and AGOA eligibility:
• Maldives regained GSP designation on December 23, 2009.
• Trinidad and Tobago were removed from GSP on January 1, 2010.
• Cape Verde is no longer a Least-Developed GSP country as of January 1, 2010.
• Croatia and Equatorial Guinea are to be removed from GSP on January 1, 2011.
• Guinea, Madagascar, and Niger were terminated as African Growth and Opportunity Act beneficiary countries, effective January 1, 2010.
• Mauritania was reinstated as a lesser-developed AGOA beneficiary country, effective December 23, 2009.
Both the House Ways and Means Committee and the Senate Finance Committee intend to undertake a comprehensive review of all aspects of preference programs and introduce reform legislation in 2010.
Information on this and other recent developments can be obtained from our technical consulting group.