On 29 June 2015, US President Barack Obama signed into law the Trade Preference Extension Act of 2015 which authorized the renewal of the US Generalized System of Preferences (GSP) Scheme, after it expired on 31 July 2013. The Scheme, instituted in 1974 and renewed periodically, provides duty-free access to about 3,500 eligible products for beneficiary developing countries like the Philippines. The US GSP Scheme will expire by December 2017.

Please check the USTR website for more information.