European Commission Releases Report on GSP

The European Commission released a Feb. 10 report on the European Union's Generalized Scheme of Preferences during 2018-2019, detailing how developing countries took advantage of trade benefits under the scheme, which countries the scheme helped the most and how the scheme impacted trade. Developing countries’ exports to the EU under the special tariff treatments provided by the scheme reached a new high of about $73 billion in 2018, the commission said in a news release.