Beneficiary Developing Country

Summary of Beneficiary Developing Country

As provided in Section 501 of the Trade Act of 1974, any nation or possession of a nation authorized by the president to be accorded duty-free entry of merchandise into the United States under the GENERALIZED SYSTEM OF PREFERENCES (read this and related legal terms for further details). The act specifically excludes some countries from designation eligibility, and some products, irrespective of country of origin. The act also provides criteria under which the president is obliged to withdraw or suspend eligibility for GSP treatment.

(Main Author: William J. Miller)