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GSP - Suspension of tariff preferences

The European Commission has published a new overview of GSP sections and associated chapters where tariff preferences are suspended for certain countries. The countries affected are India, Indonesia and Kenya.

The list is valid from January 1, 2023 to December 31, 2023 and can be found in the Annex to Implementing Regulation (EU) 2022/1039.

Background

The Generalized System of Preferences (GSP) is an instrument of the European Union’s (EU) trade policy. It grants tariff preferences to developing countries when importing goods into the EU. However, GSP Regulation (EU) No. 978/2012 provides for the suspension of granted tariff preferences under certain circumstances. This is the case when the average value of these goods imported into the EU from the GSP beneficiary country exceeds the thresholds listed in Annex VI of the said Regulation for three consecutive years. The thresholds are calculated as a percentage of the total value of imports of the same products into the EU from all GSP beneficiary countries.

Source:
Commission Implementing Regulation (EU) 2022/1039 of 29 June 2022 laying down rules for the application of Regulation (EU) No 978/2012 of the European Parliament and of the Council with regard to the suspension for 2023 of certain tariff preferences granted to certain GSP beneficiary countries; OJ L 173, 30 June 2022, p. 58.

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