GSP and MTB: Two ways for importers to save on ad valorem import duties
The Generalized System of Preferences (GSP) and Miscellaneous Tariff Bill (MTB) are two legislative vehicles requiring authorization by Congress every few years. They are a way that importers can both seek sourcing opportunities in developing countries and petition for reductions or exclusions from ad valorem duty after a review and approval by the US government. … Continued