Generalized System of Preferences (GSP)

Abstract

What is GSP’s purpose? Congress created GSP to spur economic development in poor countries through trade. The program began in the 1970s when the United States and other developed country members of the United Nations (U.N.) sought ways to enable developing countries to diversify their economies and grow through trade. Rather than creating one unified GSP system, developed countries created their own programs based on a common set of goals and principles.