Generalized System of Preference in the United States

Generalized System of Preference (gsp) in the International Business Landscape

Definition of Generalized System of Preference (gsp) in the context of U.S. international business and public trade policy: A system under which industrial nations give preferential rates of duty on imports from less developed countries without receiving trade concessions in return. The United States began extending preferences in 1975, and renewed them in the Trade and Tariff Act of 1984.

Generalized System of Preference (gsp) in the International Business Landscape

Definition of Generalized System of Preference (gsp) in the context of U.S. international business and public trade policy: System of reduced tariff rates offered on goods exported from developing countries.