India and Turkey will be terminated from the Generalized System of Preferences (GSP) program following a 60-day waiting period. With $5.6 billion of US imports in 2017, India is the biggest beneficiary of the program. Turkey is the fifth-largest participant with $1.7 billion of imported goods.
A United States Trade Representative release dated March 4th stated that the changes are forthcoming because the countries “no longer comply with the statutory eligibility criteria.” India’s termination from GSP follows their failure to provide “equitable and reasonable access to its markets in numerous sectors.” Turkey is being removed from GSP because the country is “sufficiently economically developed and should no longer benefit from preferential market access to the United States market.”
If you have questions regarding the eligibility of your imports for GSP, please contact Deringer’s Compliance Department.