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The omnibus fiscal year 2018 spending bill signed into law March 23 by President Trump includes a provision that, effective April 22, will extend the Generalized System of Preferences through Dec. 31, 2020. This extension will be retroactive to the Dec. 31, 2017, expiration of GSP, meaning importers will be able to seek refunds of duties they have paid since that date on goods that would have otherwise been eligible for preferential treatment under GSP.

For further reading on this topic:

Generalized System of Preferences (GSP)

NCBFAA: Publications


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