GSP Global Preferential Trade Program Expiring

Dear Valued Customer, 


The Generalized System of Preferences (GSP) is scheduled to expire on December 31, 2020. As a result, importers should prepare to pay full duty on shipments from any of the 120 countries with GSP status beginning January 1, 2021. 


Presently there are no concrete actions by congress to renew this program. However, it is possible that importers will receive full refunds for duties paid if the program is renewed by congress with retroactive effect. OEC is closely tracking the progress of congressional renewal and will provide an update as soon as information becomes available.


Please consult with your OEC Brokerage Expert with any questions regarding this update.


Sincerely yours, 


OEC Group





The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement.


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