Two Minutes in Trade – GSP Upgrade and Reauthorization

The GSP program remains lapsed, but in the meantime Members of Congress are starting to debate “upgrades” to the program. Upgrades may include a demand for higher standards from the GSP eligible countries in areas such as environment and human rights. These changes may take some time to debate and pass, but at least one important Democratic leader expects renewal to be accompanied with tariff refunds in the end.