Which act is known for its provisions surrounding trade preferences for developing countries?

The Generalized System of Preferences (GSP) is specifically designed to promote trade and economic development in developing countries by providing them with preferential tariff treatment. This system allows eligible countries to export certain products to developed countries at reduced or zero tariffs, making their goods more competitive in international markets. It encourages developing nations to diversify their economies and increase trade volumes, ultimately contributing to economic growth and poverty alleviation.

The GSP has been a key part of U.S. trade policy since its establishment, as it reflects a commitment to supporting developing countries through preferential trade benefits. This program is periodically reviewed and can be updated to accommodate changes in economic conditions or to expand the scope of eligible countries and products.

In contrast, the other acts mentioned, while they may address various aspects of trade, do not focus primarily on providing trade preferences tailored specifically for developing countries in the same way that the GSP does.