58. Which of the following statements regarding the Generalized System of Preferences (GSP) is true?
A. GSP is a trade program reserved for countries that export a majority of their originating goods to the U.S.
B. GSP is a “unilateral” trade program, in that the countries which are granted special treatment for imports into the U.S. do not reciprocate
C. The special program indicator (SPI) “A*” is reserved for the “least- developed beneficiary developing countries” (LDBDC)
D. GSP is one of the newest trade programs to be put into effect
E. Because it was one of the first trade programs to be instituted, GSP did not include an expiration date in the presidential proclamation and therefore is not subject to periodic renewal by Congress
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The Answer is: B
Citation: 19 CFR 10.171; HTS General Note 4
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