Modified list of beneficiary developing countries under Trade Act of 1974

On May 31, 2019, President Trump signed Proclamation 2019-9986 modifying the list of countries eligible for preferential trade benefits under the Generalized System of Preferences (GSP) program established by the Trade Act of 1974. The proclamation removed certain countries from the beneficiary list, ending their eligibility for duty-free trade access to U.S. markets. This directly affected import tariffs on goods from affected countries, increasing costs for American importers and potentially raising prices on consumer goods sourced from those nations.