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Feb 27, 2016- U.S. President Barack Obama signed legislation authorizing special trade preferences for Nepal, which grants duty-free tariff benefits for up to 66 types of items, including certain carpets, headgear, shawls, scarves, and travel goods.

A press statement issued by US embassy in Kathmandu stated that the Nepal program was authorised for ten years and designed to help Nepal’s economic recovery from the earthquakes that struck the country last year. The program grants duty-free tariff benefits for Nepali exports not currently eligible for benefits under the General System of Preferences (GSP). The Nepal Trade Preferences Legislation also outlines a trade capacity building program, focused on helping Nepal implement the World Trade Organization’s Trade Facilitation Agreement (TFA).