CBP Issues GSP Termination Instructions

December 27, 2010

On December 23, 2010 Customs and Border Protection (CBP) issued a CSMS message providing instructions for importers regarding GSP termination. The Generalized System of Preferences (GSP) will expire for goods entered or withdrawn from warehouse after midnight, December 31, 2010.

After midnight on December 31, 2010, importers must pay the applicable normal trade relations rate of duty on goods formerly covered by GSP. Importers may still apply the GSP special program indicator on eligible goods in order to enable CBP to liquidate all such preference claims with a refund should the GSP program be reauthorized retroactively when Congress returns in January.

GSP renewal and the second Miscellaneous Tariff Bill were not included in the Omnibus Trade Act that Congress passed on December 22, 2010.

For further information, contact a Barnes/Richardson attorney.