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 Com-
mittee on Ways and Means 
A BILL 
To extend the Generalized System of Preferences program. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Repayment of Extra 
Tariffs with Renewal Of GSP Act’’ or the ‘‘RETRO GSP 
Act’’. 
SEC. 2. FINDINGS AND SENSE OF CONGRESS. 
(a) FINDINGS.—Congress makes the following find-
ings: 
(1) The Generalized System of Preferences 
(‘‘GSP’’) program has been a cornerstone of United 
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States trade policy for half a century and has played 
a pivotal role in fostering economic growth and de-
velopment in low- and middle-income countries while 
benefiting American consumers, businesses, and 
workers. 
(2) The GSP program serves the economic, 
strategic, security, and foreign policy interests and 
objectives of the United States, including the United 
States’ strategic competition with the People’s Re-
public of China, by incentivizing increased trade, 
promoting global standards of living, and strength-
ening our economic engagement with developing 
economies. 
(3) The extended lapse in congressional author-
ization for the GSP program, from December 31, 
2020 to the date of enactment of this Act, has un-
dermined these interests and objectives, resulted in 
significant financial strain on American companies, 
and contributed to higher prices for American con-
sumers. 
(4) Over $3,000,000,000 in estimated tariffs 
have been paid in tariffs by American businesses 
since the expiration of the GSP program, halting 
business expansion, hindering job creation, and pre-
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venting crucial investments in operations and infra-
structure. 
(5) Delays and uncertainty surrounding the fu-
ture of the GSP program have inhibited strategic 
planning for companies interested in reconfiguring 
their supply chains to align their investments with 
principles 
of 
near-shoring 
and 
friend-shoring, 
compounding the challenge posed by billions of dol-
lars in additional tariffs. 
(6) Congress has historically provided for full 
retroactive repayment of tariffs imposed on Amer-
ican companies as a result of lapses in authorization 
for the GSP program when renewing or extending 
the program. 
(b) SENSE OF CONGRESS.—It is the sense of Con-
gress that the renewal of the GSP program should be ac-
companied by the retroactive return of tariffs paid on the 
entry of articles that would have received duty-free or 
preferential treatment if the program had been renewed. 
SEC. 3. EXTENSION OF GENERALIZED SYSTEM OF PREF-
ERENCES. 
(a) IN GENERAL.—Section 505 of the Trade Act of 
1974 (19 U.S.C. 2465) is amended by striking ‘‘December 
31, 2020’’ and inserting ‘‘December 31, 2029’’. 
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(b) APPLICATION OF RETROACTIVE TREATMENT.— 
Notwithstanding section 505 of the Trade Act of 1974 (19 
U.S.C. 2465), section 514 of the Tariff Act of 1930 (19 
U.S.C. 1514), or any other provision of law and subject 
to subsection (c), any entry of a covered article to which 
duty-free treatment or other preferential treatment under 
title V of the Trade Act of 1974 (19 U.S.C. 2461 et seq.) 
would have applied if the entry had been made on Decem-
ber 31, 2020, that was made— 
(1) after December 31, 2020; and 
(2) before the date of enactment of this Act, 
shall be liquidated or reliquidated as though such entry 
occurred on December 31, 2020. 
(c) REQUESTS.—A liquidation or reliquidation may 
be made under subsection (b) with respect to an entry only 
if a request therefor is filed with U.S. Customs and Bor-
der Protection not later than 180 days after the date of 
the enactment of this Act that contains sufficient informa-
tion to enable U.S. Customs and Border Protection— 
(1) to locate the entry; or 
(2) to reconstruct the entry if it cannot be lo-
cated. 
(d) PAYMENT OF AMOUNTS OWED.—Any amounts 
owed by the United States pursuant to the liquidation or 
reliquidation of an entry of a covered article under sub-
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