Trade – U.S. Government Hearings on GSP & Fashion Accessories

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The U.S. International Trade Commission (USITC) scheduled hearings for February 24 to study the economic impact of adding fashion accessories (HTS Heading 4202) to the Generalized System of Preferences (GSP) program. The USITC hearings follow last week’s announcement that the U.S. Trade Representative (USTR) has also scheduled hearings for March 3-4 to review the addition of fashion accessories to the GSP program. The U.S. government is expected to announce a final decision on whether allow U.S. imports of fashion accessories to enter duty-free under GSP in June 2016. If approved, FASA/Gemini members could start importing fashion accessories duty-free under GSP as soon as July 1, 2016. This initiative, on which FASA/Gemini has helped lead the industry coalition, could generate as much as $75 million in duty savings for the industry during the first year it takes effect. FASA/Gemini members who wish to participate or learn more about the hearings should contact FASA/Gemini’s Nate Herman, 202-835-9351.