GSP Bill Approved in House, moves to Senate

The renewal of the bill that re-authorizes GSP (Generalized System of Preferences) passed through the House of Representatives by a 400-2 vote.  Now, the vote will move to the Senate for a vote that is expected in April.  The GSP program allows free trade of goods from 161 foreign countries that are directly shipped into the United States.  Brokers have been instructed to enter the special program indicator “A” on eligible shipments.  If GSP is retroactively reinstated, US Customs will begin automatically refunding the duties paid during this period.