Generalized System of Preferences Renewal: Agricultural Imports

Publication Date: November 2006

Publisher: Library of Congress. Congressional Research Service

Author(s):

Research Area: Agriculture, forestry and fishing; Trade

Type:

Abstract:

The Generalized System of Preferences (GSP) provides duty-free tariff treatment for certain products from designated developing countries. Legislation authorizing the current GSP program expires December 31, 2006. Agricultural imports under the GSP totaled $1.9 billion in 2005, about 7% of all U.S. GSP imports. Leading agricultural imports include sugar, confectionery, cocoa, olive oil, processed meats, drinking waters, and miscellaneous food preparations and inputs for further processing. The majority of these imports are from Argentina, Brazil, India, the Philippines, Thailand, and Turkey. These countries are among those identified by some in Congress and in a recent Bush Administration proposal as countries whose GSP benefits may be limited or curtailed. Opinion within the U.S. agriculture industry is mixed, reflecting both support for and opposition to the current program. This report will be updated as conditions warrant.