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Nonreciprocal preferential treatment

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Definition Edit

Nonreciprocal preferential treatment refers to a trade arrangement under which one party agrees to extend preferential treatment to the imports of a country or group of countries unilaterally.

Overview Edit

Such arrangements involve primarily developed countries extending nonreciprocal preferential treatment to the imports from developing countries. For example, the United States employs the Generalized System of Preferences (GSP), the Andean Trade Preferences Act (ATPA), the Caribbean Basin Initiative (CBI), and the Africa Growth and Opportunity Act (AGOA). The main objective of these nonreciprocal arrangements is to encourage economic development in developing countries.

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