U.S SENATE COMMITTEE EXTENDS GSP
The U.S Senate Finance Committee has agreed to extend the General System
of Preferences for five years.
GSP gives U.S. importers duty-free status on certain goods from
developing countries. It also helps developing countries to sell their
products in the U.S.
GSP is set to expire at the end of the month. Since 1994, the program
has had to be renewed each year by Congress.