The US Generalized System of Preferences (GSP) program for Sri Lanka and other beneficiary countries would expire on December 31, 2017, as the US Congress did not re-authorize GSP before adjourning for the year, the US Embassy said today.
Accordingly, the immediate effect of GSP expiration is that the GSP eligible imports to the US from Sri Lanka and other GSP beneficiary countries and territories will be subject to non-preferential duties beginning January 1, 2018
In a statement, the embassy said the US is proud to serve as the top export market for Sri Lanka. According to the Global Trade Atlas, in 2016, the US imported $2.8 billion of Sri Lankan goods.
“The US 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,” the statement said.