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Three Countries Being Removed from GSP as of Jan. 1

Thursday, December 29, 2016
Sandler, Travis & Rosenberg Trade Report

Seychelles, Uruguay, and Venezuela will be graduated from the Generalized System of Preferences as of Jan. 1, 2017. This change was set forth in an October 2015 presidential proclamation after these three countries were determined to have become high-income countries as defined by the official statistics of the World Bank.

As a result of this change, effective Jan. 1 goods under about 3,500 eight-digit tariff lines from Seychelles, Uruguay, and Venezuela will again be subject to tariffs when imported into the U.S. A list of affected products is available here.

Also as of Jan. 1 Seychelles is also being removed as a beneficiary under the African Growth and Opportunity Act.

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