Industry Urges Congress to Renew GSP

Hundreds of companies have signed a letter urging the US Congress to renew the Generalized System of Preferences (GSP) program.  This letter states that US employers are now faced with paying over two (2) million dollars in duties, per day, while the program is lapsed. 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.