UNCTAD report: GSP lapse hitting smallest countries hardest

The lapse of the Generalized System of Preferences in the U.S. is likely to hit smaller economies hardest, as many of their exporters are unable to navigate administrative procedures for receiving refunds for duties paid on GSP-eligible products if Congress renews the program retroactively, as it has in the past, according to a report issued this week by the United Nations Conference on Trade and Development. GSP expired at the end of 2020, subjecting thousands of products from developing countries...