Industry News

CBP Cannot Extend Liquidation for GSP Claims

June 12, 2014


U.S. Customs and Border Protection (CBP) recently advised importers to stop filing requests for liquidation of clams for the possible renewal of Generalized System of Preferences (GSP).  Last year, Congress was unable to pass legislation renewing GSP before it expired on July 31st, 2013. CBP released a CSMS message announcing that the agency lacks the authority to further extend liquidation, therefore all requests for an extension of liquidation for possible GSP renewal will be denied.  CBP indicated, “If GSP is re-enacted, the legislation would specify an effective date for the renewal and may or may not allow for retroactive claims.”  
 
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