Alert: Generalized System of Preferences (GSP) Expires on July 31
If your company imports product to the United States that is subject to the Generalized System of Preferences (GSP), please review the following alert.
In the absence of Congressional action (now considered unlikely), preferential treatment of eligible merchandise under GSP will expire on Wednesday, July 31, 2013. Eligible merchandise entered or withdrawn for consumption after that date will be dutiable at the column 1 rate.
U.S. Customs and Border Protection (CBP) has advised that GSP-eligible merchandise entered on or after August 1, 2013 will be accepted with the applicable special products indicator (A) and the duty payment.
In this manner, CBP will be in a position to refund automatically any duty payments made if and when the GSP program is retroactively renewed by Congress, as has been the case in the past.
AIT Worldwide Logistics will continue to process all transactions involving GSP-eligible merchandise in order to qualify for the automatic refund should it become available.
As always, thank you for your continued business with AIT as your global transportation management partner.