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* U.S. GSP program expires on Dec 31, not renewed for 2018
Fri, Dec 29, 2017, 07:03 pm SL Time, ColomboPage News Desk, Sri Lanka.

Dec 29, Colombo: The United States' Generalized System of Preferences (GSP) program for Sri Lanka and other GSP beneficiary countries will expire on December 31, 2017 as the U.S. Congress has not re-authorized the program before adjourning for the year, the U.S. Embassy in Colombo said in a statement.

The immediate effect of GSP expiration is GSP eligible imports to the United States from Sri Lanka and other GSP beneficiary countries and territories will be subject to non-preferential duties beginning January 1, 2018.

"The United States is proud to serve as the top export market for Sri Lanka. According to the Global Trade Atlas, in 2016, the United States imported $2.8 billion of Sri Lankan goods," the statement said.

U.S. Customs and Border Protection's web site has a page dedicated to GSP program information with detailed information on importation procedures during a program lapse.

 

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