The changes are provided in the act adopted by the US Congress to extend the program “Generalized System of Preferences” (GSP).
This act extends the right to use the GSP program until December 31, 2017, said the message. The act came into force on July 29, 2015 and these benefits will be also applied to goods imported into the United States since the period of the loss of power of the previous act [July 31, 2013]. Accordingly, the exporters will be able to get back the customs duties paid for goods delivered to the US in the period from July 31, 2013 to July 29, 2015, said the message.
GSP program promotes economic development by eliminating duties on up to 5,000 types of products when imported from developing countries. Products that are eligible for duty-free treatment under GSP include most manufactured items, many types of chemicals, minerals and building stone, jewelry, many types of carpets and certain agricultural and fishery products.
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