Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown discuss the Generalized System of Preferences (GSP), the program rich countries use to offer lower tariffs to exporters in developing countries. They discuss a variety of programs—the now expired US GSP scheme, the African Growth and Opportunity Act (AGOA), as well as differences with the European Union's GSP, GSP+ and Everything But Arms (EBA) policies. They speak with Emily Blanchard (Tuck School at Dartmouth College) and Kimberly Ann Elliott (Center for Global Development) about the design flaws of one-way trade preferences and research on their impact on developing countries.