Monday, June 29, 2015
The long-awaited renewal of the Generalized System of Preferences (GSP) which had expired on July 31, 2013 was passed by the House and the Senate last week. It is anticipated that President Obama will soon follow through with enactment, possibly as early as this week to reinstate GSP and extend it through December, 2017.
Once the bill is signed and becomes law, CBP will issue specific instructions about securing refunds for entries made during the lapse in GSP. FHK will issue trade alerts to keep importers up to date on the progress of the bill and the instructions for refunds.
For more information on this: https://www.govtrack.us/congress/bills/114/hr1295