Published on 04-Jul-12

July 4, 2012 - In a directive to the Congress which was also posted on the White House website on Friday June 29th, Obama stated: “Pursuant to section 502(e) of the 1974 (Trade) Act, I have determined that it is appropriate to terminate Turks and Caicos Islands' designation as a beneficiary developing country under the Generalised System of Preferences (GSP) program, because it has become a high income country as defined by the World Bank. Accordingly, Turks and Caicos Islands' eligibility for trade benefits under the GSP program will end on January 1, 2014.”