Modified Generalized System of Preferences product eligibility list
💰 Economy · First Term (2017–2021) · 🤖 AI-categorized
On October 30, 2018, President Trump signed Proclamation 2018-24032 modifying the list of products eligible for duty-free treatment under the Generalized System of Preferences (GSP), a trade program that grants preferential tariff rates to certain imports from developing countries. The proclamation removed or modified duty-free status for specific product categories. The change directly affected import duties on goods from GSP-designated countries, altering costs for businesses importing those products and potentially affecting consumer prices on affected merchandise.