GSP Savings, Expiration, Reform, and Enforcement: From Policy to Operations
Webinar: 1.5 CCS Credits
The Generalized System of Preferences expires at the end of 2020 and there is uncertainty regarding its future. The Trump administration has already excluded some of the largest users from the program, but at the same time some businesses are pushing for GSP to be expanded to include new apparel and footwear products as part of a possible renewal.
Operationally, U.S. Customs and Border Protection has increased its monitoring of GSP claims to ensure they meet program requirements. Importers must take steps to ensure GSP claims are made using reasonable care and are documented and that the goods are compliant. Failure to do so can result in significant increases in duties as well as penalties.
This webinar will discuss both the political and regulatory environments surrounding the present and future of GSP. Having a clearer understanding of GSP can help companies understand duty savings opportunities and avoid penalties.
- prospects for GSP renewal and reform before expiration
- GSP annual review process and products that may be excluded starting in November
- GSP requirements, including the product of, direct import, and minimum value content requirements
- documentation necessary to support requirements
- recent CBP actions relating to GSP
DAVID OLAVE is an Associate and Trade Policy Advisor for Sandler, Travis & Rosenberg, P.A. He employs a unique blend of experience in trade negotiations, legislative procedures, lobbying and civil society outreach to advise clients on the potential impact of trade-related legislation and to work with the U.S. government to address clients’ needs.