A. U.S. program that grants duty-free treatment, on a product-by-product basis, to developing countries. This program is intended to help developing nations start selling to U.S. markets.
Tariff preferences for developing countries, by which developed countries let certain manufactured and semi-manufactured imports from developing countries enter at lower tariffs than the same products from developed countries.
an agreement developed by UNCTAD in 1968 whereby 27 of the world’s richer nations agreed to reduce their import duties on goods imported from developing countries. The GSP is important to developing countries because its programs outline trade concessions that help to equalize the terms of international trade.
A policy that permits duty-free entry of certain imports from designated developing countries. Among other things, the GSP may increase economic growth in developing countries, help maintain favourable foreign relations with free world developing countries, and may serve as a low-cost means of providing aid to these nations. It is part of a coordinated effort of the industrial trading nations to bring developing countries more fully into the international trading system. Under the GSP, the United States provides nonreciprocal tariff preferences for designated developing nations.
notes duty free/reduced tariffs on imports from the countries listed on the GSP list.
A program providing for zero or preferred tariff rates for developing countries under which developed countries allow the import of certain products at lower tariffs than those applied to the same products from more developed countries.
A program providing for free rates of duty for merchandise from beneficiary developing independent countries and territories to encourage their economic growth.
First authorized by the Trade Act of 1974, GSP allows some 140 developing countries to ship more than 3,000 products to the United States duty-free. This helps developing countries to generate foreign exchange needed to purchase import commodities. The United States and 18 other industrialized nations began GSP programs in the mid-1970s to promote the economic growth of developing nations.
a government program allowing the importation of merchandise free of duty from beneficiary developing countries and territories.
A preferential trade framework under which exports of developing countries are allowed to enter the markets of industrialised countries at a lower preferential tariff rate. However, the GSP framework includes a number of important exceptions, mainly in relation to exports of textiles and agricultural goods from developing countries. In general, the GSP is one element of a co-ordinated effort by the industrial trading nations to bring developing countries more fully into the international trading system. Français: Système Généralisé des Préférences (Privilèges) Español: Sistema Generalizado de Preferencias (SGP)
A program of tariff preferences for designed to encourage the economic growth of certain developing countries. In accordance with the Generalized System of Preferences (GSP), developed countries let the manufactured and semi-manufactured goods of eligible developing countries enter with either no duty or a lower rate than is applied to other countries.
The Generalized System of Preferences, or GSP, is a formal system of exemption from the more general rules of the World Trade Organization, WTO, (formerly, the General Agreement on Tariffs and Trade or GATT). Specifically, it's a system of exemption from the Most Favored Nation principle, MFN, that obligates WTO member countries to treat the imports of all other WTO member countries no worse than they treat the imports of their "most favored" trading partner. In essence, MFN requires WTO member countries to treat imports coming from all other WTO member countries equally, that is, by imposing equal tariffs on them, etc.