The U.S. Generalized System of Preferences (GSP) is a program designed to promote economic growth in the developing world by providing preferential duty-free entry for up to 5,000 products when imported from one of 122 designated beneficiary countries and territories.

GSP is the largest and oldest U.S. trade preference program that provides nonreciprocal, duty-free treatment enabling many of the world’s developing countries to spur diversity and economic growth through trade.

The Generalized System of Preferences, or GSP, is a preferential tariff system which provides tariff reduction on various products. The concept of GSP is very different from the concept of "most favored nation" (MFN).

4 days ago · The Generalized System of Preferences (GSP), instituted in 1971 under the aegis of UNCTAD, has contributed over the years to creating an enabling trading environment for developing countries.

The U.S. Generalized System of Preferences (GSP), a program designed to promote economic growth in the developing world, provides preferential duty-free treatment for over 3,500 products from 127 designated beneficiary countries (BDCs) and territories, including 44 least-developed beneficiary developing countries (LDBDCs).

The Generalized System of Preferences Program (GSP Program) is set out in title IV of the Trade Act of 1974 (19 U.S.C. 2461 et seq.). It authorizes the President, subject to certain conditions and limitations, to provide duty-free treatment for eligible articles imported from …

The U.S. Generalized System of Preferences (GSP), a program designed to promote economic growth in the developing world, provides preferential duty-free treatment for over 3,400 products from 131 designated beneficiary countries and territories, including 44 least-developed beneficiary developing countries.

Sep 26, 2024 · The Generalized System of Preferences (GSP) is a trade program initiated by the United States to provide duty-free access to products imported from developing countries. Through GSP, the U.S. offers preferential treatment on about 4,800 different products from over 130 countries and territories.

What is meant by the Generalized System of Preferences? It is a preferential tariff arrangement granted by the developed countries to a few beneficiary countries (developing countries and LDCs) to promote economic growth in those countries. What are GSP countries? 13 countries grant GSPs, the list is given above in the article.

Apr 30, 2024 · In this article on the Generalized System of Preferences UPSC, let us look at the Background of GSP, the concept of the Most favoured Nation, the Benefits of the Generalized System of Preference, and the US withdrawal of GSP for the UPSC IAS Exam.