GSP re-authorizing Denied by US; Result of Sri Lanka’s Move against Trump
The Generalized System of Preferences (GSP) program will be expired on 31 Dec 2018. The United States Congress did not re-authorize GSP before adjourning for the year.
GSP eligible imports to the United States from Sri Lanka and other GSP beneficiary countries and territories will be subject to non-preferential duties beginning January 1, 2018, will be the immediate effect of GSP expiration.
Sri Lanka had been voted against the decision of American President Donald Trump that, announced Jerusalem as the Capital of Israel, in the General Council of United Nation, last week.
In this situation, the denial of America to reauthorize the GSP project, considers as a result of the Sri Lanka’s move against President Donald trump.
American President Donald Trump Had already announced that, he is watching who vote against America and all the Financial aids Provided by US, will be stopped immediately.