GSP and ATPDEA Will Expire Dec. 31st Unless Extended
As year-end approaches, the Generalized System of Preferences program (GSP) for beneficiary countries, excluding African Growth and Opportunity Act (AGOA) countries, are set to expire December 31, 2010, unless Congress enacts a law to extend benefits. Also, the benefits for Colombia, Ecuador and Peru under the Andean Trade Preference Act/Andean Trade Promotion and Drug Eradication Act (ATPA/ATPDEA) will expire at the end of the year unless a law is enacted to extend their beneficiary status.
Given the time constraints, it is uncertain whether an extension will be enacted. Importers are advised to monitor the situation in case products currently afforded special duty status under these programs become subject to general duty rates at the beginning of the year.
NOTE: In the past, programs that were renewed after the expiration dates have been made retroactive to the date of expiration.