I 

118TH CONGRESS 

2D SESSION H. R. 7555 

To extend the Generalized System of Preferences program. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 5, 2024 

Ms. WASSERMAN SCHULTZ (for herself, Mr. DIAZ-BALART, Ms. WILSON of 

Florida, Mr. RUTHERFORD, Mrs. CHERFILUS-MCCORMICK, and Ms. 

SALAZAR) introduced the following bill; which was referred to the Committee on Ways and Means 

A BILL 

To extend the Generalized System of Preferences program. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Repayment of Extra 

5 Tariffs with Renewal Of GSP Act’’ or the ‘‘RETRO GSP 

6 Act’’. 

7 SEC. 2. FINDINGS AND SENSE OF CONGRESS. 

8 (a) FINDINGS.—Congress makes the following find9 ings: 

10 (1) The Generalized System of Preferences 

11 (‘‘GSP’’) program has been a cornerstone of United 


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1 States trade policy for half a century and has played 

2 a pivotal role in fostering economic growth and de3 velopment in low- and middle-income countries while 

4 benefiting American consumers, businesses, and 

5 workers. 

6 (2) The GSP program serves the economic, 

7 strategic, security, and foreign policy interests and 

8 objectives of the United States, including the United 

9 States’ strategic competition with the People’s Re10 public of China, by incentivizing increased trade, 

11 promoting global standards of living, and strength12 ening our economic engagement with developing 

13 economies. 

14 (3) The extended lapse in congressional author15 ization for the GSP program, from December 31, 

16 2020 to the date of enactment of this Act, has un17 dermined these interests and objectives, resulted in 

18 significant financial strain on American companies, 

19 and contributed to higher prices for American con20 sumers. 

21 (4) Over $3,000,000,000 in estimated tariffs 

22 have been paid in tariffs by American businesses 

23 since the expiration of the GSP program, halting 

24 business expansion, hindering job creation, and preVerDate Sep 11 2014 22:37 Mar 12, 2024 Jkt 049200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H7555.IH H7555

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1 venting crucial investments in operations and infra2 structure. 

3 (5) Delays and uncertainty surrounding the fu4 ture of the GSP program have inhibited strategic 

5 planning for companies interested in reconfiguring 

6 their supply chains to align their investments with 

7 principles of near-shoring and friend-shoring, 

8 compounding the challenge posed by billions of dol9 lars in additional tariffs. 

10 (6) Congress has historically provided for full 

11 retroactive repayment of tariffs imposed on Amer12 ican companies as a result of lapses in authorization 

13 for the GSP program when renewing or extending 

14 the program. 

15 (b) SENSE OF CONGRESS.—It is the sense of Con16 gress that the renewal of the GSP program should be ac17 companied by the retroactive return of tariffs paid on the 

18 entry of articles that would have received duty-free or 

19 preferential treatment if the program had been renewed. 

20 SEC. 3. EXTENSION OF GENERALIZED SYSTEM OF PREF21 ERENCES. 

22 (a) IN GENERAL.—Section 505 of the Trade Act of 

23 1974 (19 U.S.C. 2465) is amended by striking ‘‘December 

24 31, 2020’’ and inserting ‘‘December 31, 2029’’. 


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1 (b) APPLICATION OF RETROACTIVE TREATMENT.— 

2 Notwithstanding section 505 of the Trade Act of 1974 (19 

3 U.S.C. 2465), section 514 of the Tariff Act of 1930 (19 

4 U.S.C. 1514), or any other provision of law and subject 

5 to subsection (c), any entry of a covered article to which 

6 duty-free treatment or other preferential treatment under 

7 title V of the Trade Act of 1974 (19 U.S.C. 2461 et seq.) 

8 would have applied if the entry had been made on Decem9 ber 31, 2020, that was made— 

10 (1) after December 31, 2020; and 

11 (2) before the date of enactment of this Act, 

12 shall be liquidated or reliquidated as though such entry 

13 occurred on December 31, 2020. 

14 (c) REQUESTS.—A liquidation or reliquidation may 

15 be made under subsection (b) with respect to an entry only 

16 if a request therefor is filed with U.S. Customs and Bor17 der Protection not later than 180 days after the date of 

18 the enactment of this Act that contains sufficient informa19 tion to enable U.S. Customs and Border Protection— 

20 (1) to locate the entry; or 

21 (2) to reconstruct the entry if it cannot be lo22 cated. 

23 (d) PAYMENT OF AMOUNTS OWED.—Any amounts 

24 owed by the United States pursuant to the liquidation or 

25 reliquidation of an entry of a covered article under subVerDate Sep 11 2014 22:37 Mar 12, 2024 Jkt 049200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H7555.IH H7555

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1 section (b) shall be paid, without interest, not later than 

2 90 days after the date of the liquidation or reliquidation 

3 (as the case may be). 

4 (e) DEFINITIONS.—In this section— 

5 (1) the term ‘‘covered article’’ means an article 

6 from a country that is a beneficiary developing coun7 try under title V of the Trade Act of (19 U.S.C. 

8 2461 et seq.) as of December 31, 2020; and 

9 (2) the terms ‘‘enter’’ and ‘‘entry’’ include a 

10 withdrawal from a warehouse for consumption. 

Æ 


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