05
Jan
Congress failed to reach a deal before the end of the year that would have extended the Generalized System of Preferences (GSP) program. As a result, GSP-eligible goods entered or withdrawn from warehouse are subject to “General” (Column 1) duty rates, effective January 1, 2021, at 12:00 a.m.
A bill proposed in the Senate would have extended GSP for 16 months, while a bill that was introduced in the House provided for a six-month extension. Neither bill moved forward, primarily...